Perennial Holdings secures $3 bil green loan to refinance 8 Shenton Way

The loan, supported by DBS and OCBC Bank, is Asia’s largest real estate green loan to date.

Singapore-based integrated real estate and healthcare company Perennial Holdings Private Limited (Perennial) and its consortium of investors have secured a $3 billion green loan.

The loan, which is Asia’s largest real estate green loan to date, is meant to finance the redevelopment of 8 Shenton Way. When completed, the 63-storey 8 Shenton Way will be Singapore’s tallest building at 305m high. It will also be among Asia’s most sustainable skyscrapers with its design to ensure energy efficiency as well as water efficiency.

DBS and Oversea-Chinese Banking Corporation (OCBC) acted as green loan advisors. Both banks, along with six other financial institutions, are also mandated lead arrangers.

The other six financial institutions are: Bangkok Bank Public Company Limited (Singapore Branch), China CITIC Bank International Limited, Hong Leong Finance Limited, Malayan Banking Berhad (Singapore Branch), Shanghai Pudong Development Bank, Singapore Branch, and UOB.

OCBC Bank is also the facility agent and security agent for the loan.

As at 9.53am, shares in DBS and OCBC are trading at $35.07 and $12.42 respectively.

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