has provided a green loan of 117 million South Korean won (S$132. 6 million) for you to M&G Real Estate Asian countries to refinance an expenditure in Northgate, a renewable building in Seoul's key business district, together with the lender as the sole lender and green agent.
The money is South Korea's 1st green loan supporting the home segment, OCBC said within a new statement on Feb 5th (Aug 21). It will be as well the bank's first sustainable finance transaction in the country.
The loan remains will be used to help refinance existing advances in M&G Asia Property Deposit, which are extended for the investment throughout Northgate. Typically the fund will be managed by way of M&G Real estate property Asia.
Northgate is a high-rise business building with green functions, which include rainwater recycling programs, water-efficient fixtures, LED lights in common areas, and setting up automation systems to help control heating system, ventilation, surroundings conditioning and light fittings. Environmentally-friendly materials are also employed within the building's cleaning plus normal upkeep.
In 2016, Northgate received the Management inside Energy and The environmental The design of Existing Buildings Surgical procedures and Upkeep Gold standing through the US Green Building Council.
OCBC Bank scalp of global corporate banking Elaine Lam said the financial institution searching for to grow it has the sustainable finance collection in order to S$25 billion by 2025.
Shares of OCBC had been all the way down eight cents or 0. 9 per nickle to $8. seventy five in an ex-dividend base at the midday break in Friday.