United Overseas Bank: UOB and HSBC act as green loan coordinators on HK $ 1.85 billion club loan facilities for consortium led by Gaw Capital

UOB and HSBC acted as green loan coordinators on HK $ 1.85 billion club loan facilities to a consortium led by Gaw Capital Partners (“the Consortium”). These facilities include an offshore loan of US $ 110 million (HK $ 853 million) and an onshore loan of RMB 837 million (HK $ 992 million). Maybank, BNP Paribas and KGI also participated in the club deal.

The loan proceeds will be used to refinance existing loans for the Consortium’s acquisition of four high-end office buildings1 in Shanghai MixC, an eight-story quadruple building complex in the Minhang district of Shanghai, China. The buildings have received the LEED v4 Building Operations and Maintenance certification: Existing Buildings Gold2 of the US Green Building Council for their ecological characteristics. Features include LED lights for the office lobby, control measures in elevators to save energy, environmentally friendly architectural paints sourced from the local market to reduce transportation emissions, as well as a classification of waste for better waste management.

The loan facilities support the Consortium’s continued efforts in implementing its sustainable development strategy to improve environmental performance and contribute to the United Nations Sustainable Development Goals.

Ms Christina Gaw, Senior Director and Global Head of Capital Markets at Gaw Capital Partners, said: “At Gaw Capital, ESG considerations are essential to our investment selection criteria and to our asset management. We seek opportunities to improve the value of the assets we acquire through ESG measures and aim to reduce the carbon footprint of the assets. energy efficient buildings are a long-term necessity and we firmly believe that environmentally friendly real estate will lead to better performance and better well-being for the users of a property. ”

Ms. Christine Ip, CEO – Greater China, UOB, said, “Green and energy efficient features will increasingly become the norm for upscale office buildings as we move to a low carbon economy. We are delighted to be walking alongside our longtime partner Gaw Capital Partners on their journey of UOB’s commitment to forging a sustainable future with our clients by supporting their sustainable business models as they move forward. responsible manner. ”

Mr. Frank Fang, Head of Commercial Banking, Hong Kong, HSBC, said: “As a leading bank in the sustainable finance market, HSBC strives to help companies achieve their ESG agenda and contribute to a net zero economy. With sustainability being key to the development of the real estate industry, it is our pleasure to work with Gaw Capital Partners to help shape the future of green buildings together. ”

1Four high-end office buildings, namely towers A, B, C and D in Shanghai MixC.

2 https://www.usgbc.org/guide/om

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