UOB, DBS and StanChart grant $945m green loan for DUO Tower deal

The loan was granted to Allianz Real Estate and Gaw Capital Partners.

United Overseas Bank (UOB), DBS Bank and Standard Chartered Singapore have jointly grant a $945m green loan to asset manager Allianz Real Estate and private equity fund firm Gaw Capital Partners to finance their acquisition of DUO Tower and DUO Galleria, according to a news release.

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The three banks served as loan advisers, joint mandated lead arrangers, underwriters and bookrunners to Ophir-Rochor Commercial, the joint venture (JV) between Allianz Real Estate and Gaw Capital Partners. UOB also acted as the facility and security agent to the syndicated loan.

The loan was structured in accordance with Ophir-Rochor Commercial’s green loan framework, itself aligned with the Green Loan Principles issued by the Green Loan Association in 2018.