New A$300 million sustainability-linked loan for Australian operations
Frasers Property’s Australian business 45% now financed by green loans
- The facility marks the fifteenth green or sustainability-linked financing for Frasers Property Limited
- 45% of corporate facilities for Frasers Property in Australia now secured in green loans and sustainability-linked loans
- Lenders’ support of the facility demonstrates their increased recognition of sustainable business model and projects
AUSTRALIA, 19 APRIL 2021
Frasers Property Limited (FPL) today announced its Australian platform, including Frasers Property Australia and Frasers Property Industrial, has secured a A$300 million five-year syndicated sustainability-linked loan with an accordion option of A$25 million under the LMA/APLMA Sustainability Linked Loan Principles (2019)1.
This means Frasers Property in Australia now has 45% of its corporate financing facilities secured in the form of sustainability-linked loans and green loans.
The new loan facility is the fifteenth green or sustainability-linked loan secured by the FPL group and was coordinated by Barclays Bank PLC (as Underwriter) and Barclays Capital Asia Limited (as Mandated Lead Arranger and Bookrunner); Mizuho Bank, Ltd.; and United Overseas Bank Limited (as Mandated Lead Arrangers, Underwriters and Bookrunners).
Anita Hoskins, Chief Financial Officer, Frasers Property Australia says while the benefits for borrowers are more evident, she has observed that lenders are increasingly recognising the importance and opportunity in investing in more sustainable projects and business models.
“There are multiple potential advantages for lenders in making sustainable finance available to businesses involved in projects and practices that will generate better, more sustainable outcomes,” Ms Hoskins says.
“It means they can fulfil their immediate social imperatives while also creating long-term alignments with organisations with robust sustainability platforms, which are better placed to succeed and navigate a more sustainably-aware future operating environment,” she says.
The full announcement can be read on Frasers Property Limited's website.