Frasers Property bags $904.1m green-linked loan

Proceeds will be used to repay existing debts and for working capital.

Frasers Property, through its wholly owned subsidiary, Frasers Property Treasury, has secured a $904.1m five-year sustainability-linked loan (SLL).

The facility includes two tranches, comprising a $370.4m (A$407m) loan and a $549m (US$407m) loan.

Proceeds from the loan will be used to refinance existing loans and for working capital and other general corporate purposes.

The loan facility features a price reduction structure pegged to the company’s GRESB performance, allowing savings in borrowing costs if specific GRESB performance targets are met.

Following the latest facility, Frasers Property has secured more than $13b in green or sustainability-linked loans and bonds.