The national joint venture between Malaysia and Singapore, M+S Pte Ltd, has obtained a S$1.95 billion green loan for its sustainable asset Marina One from DBS, OCBC Bank and United Overseas Bank (UOB).

This is the largest green loan for a real estate company in the Asia-Pacific to date, said the developer, which is 60 per cent owned by Malaysian sovereign wealth fund Khazanah Nasional and 40 per cent owned by Singapore investment firm Temasek Holdings.

The trio of Singapore lenders acted as joint green loan advisers and mandated lead arrangers for this transaction, they said in a joint statement with M+S on Monday.

The proceeds of the green loan will partially finance Marina One's office and retail components, which are valued at about S$5 billion. The residential component is not part of the green loan package.

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The Business Times