Crédit Agricole CIB provides multicurrency sustainability-linked Term Loan Facility to CapitaLand

Crédit Agricole CIB is pleased to announce its provision of a 5-year SGD150 million Multicurrency Sustainability-Linked Term Loan Facility to CapitaLand. This is the first sustainability-linked loan Crédit Agricole CIB supports in the Asia Pacific real estate sector. 

With the sustainability-linked nature of the facility, CapitaLand has the flexibility to use the loan for general corporate purposes, unlike green loans where proceeds are applied towards the funding of specific green projects. These efforts will be quantified and benchmarked against a rigorous set of ESG indicators agreed between CapitaLand and Crédit Agricole CIB. CapitaLand is required to be listed in the Dow Jones Sustainability World Index (DJSI World) or Dow Jones Sustainability Asia Pacific Index (DJSI APAC) where its continued exemplary ESG efforts will lower the interest rate of the loans on a tiered basis.

 Jean-Pierre Michalowski, Senior Country Officer for Singapore, commented, “CapitaLand has been a prime client of Crédit Agricole CIB for more than 20 years. We are delighted to support this sustainability-linked loan as it also reaffirms the determination of Crédit Agricole CIB to play a global bellwether in sustainable financing. We look forward to further enhancing our partnership with CapitaLand on their continued ESG efforts."

Dominique Duval, Head of Sustainable Banking in Asia Pacific, added, “This new financing transaction confirms the strong and long-term sustainability commitments of CapitaLand and our support of the transition to a low carbon economy and to act as a global sustainable strong player. Crédit Agricole CIB has been very pleased to accompany CapitaLand in the green and ESG finance fields with the structuring of this sustainability-linked loan. Supporting our clients in this field and developing innovative and tailor-made sustainable finance solutions for them are in the heart of Crédit Agricole CIB’s strategy."

Andrew Lim, Group Chief Financial Officer, CapitaLand Group, said,“As one of Asia’s largest diversified real estate groups, CapitaLand’s leadership in sustainability is a defining aspect of who we are as a purpose-driven company. After securing the first and largest sustainability-linked loan in Asia’s real estate sector last year, we are now even more convinced that good sustainability practices can reap positive tangible benefits for business. CapitaLand is delighted to have new like-minded partners on board with us on this journey to embed sustainability into our business in the long run. Together with Crédit Agricole CIB, we hope to demonstrate that financial returns can be in sync with the interests of our environment and the community."