IFC grants CapitaLand India Trust $200 Million sustainability-linked loan
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CapitaLand India Trust (CLINT) has secured a $200 million sustainability-linked loan (SLL) from the International Finance Corporation (IFC), a development institution focused on the private sector in markets and a member of the World Bank.
In a press release, CLINT said that the loan increases the company’s sustainable finance to $1.16 billion, 79% of its total loans.
Read more: HDFC Bank raises $750 million through sustainable finance
It adds, “The SLL will be used to re-finance CLINT’s existing revolving credit facilities (RCFs). It will unlock additional availability of the RCFs, reduce CLINT’s finance cost and further diversify its funding sources.”
Additionally, CLINT has selected two key performance indicators (KPI) for this SLL. KPI 1 aims to reduce the absolute greenhouse gas (GHG) emissions of its IT business park portfolio.
Meanwhile, KPI 2 targets obtaining Excellence in Design for Greater Efficiencies (EDGE) certification for three selected IT business parks – International Tech Park Chennai, CyberVale, and aVance Pune by 2026.
Sanjeev Dasgupta, Chief Executive Officer of CapitaLand India Trust Management Pte. Ltd. (the Trustee-Manager of CLINT), said, “Tying our sustainability performance with our financing demonstrates CLINT’s commitment to responsible growth as we work towards achieving Net Zero carbon emissions for Scope 1 and 2 by 2050. The SLL from IFC reflects CLINT’s disciplined capital management and aims to build trust amongst our stakeholders by providing a credible measurement of our progress in decarbonisation.”
CapitaLand India Trust (CLINT), previously known as Ascendas India Trust, was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) in August 2007 as Asia’s first Indian property trust. Its primary objective is to own income-generating real estate primarily used for business space in India.
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