UOB, ANZ, StanChart HK provide $14.4b green loan to a Gaw Capital consortium

The funds will refinance over a dozen shopping centres and malls.

UOB, ANZ, and Standard Chartered Hong Kong have teamed up to provide a HK$14.4b sustainability-linked loan to a Gaw Capital-led consortium.

The funds will be used to refinance its retail portfolio under People’s Place, covering 16 shopping properties in Hong Kong, the banks said in a joint statement.

Amongst the shopping properties in the portfolio are: Cheung Hang Shopping Centre, Kai Yip Commercial Centre, Kam Tai Shopping Centre, Kwai Shing East Shopping Centre, Lai Kok Shopping Centre, Lee On Shopping Centre, Lei Cheng Uk Shopping Centre, Lions Rise Mall, On Ting Commercial Complex, Retail and Car Park within Shun Tin Estate, Shek Lei Shopping Centre I and II, Tai Wo Hau Commercial Centre, Tsing Yi Commercial Complex, Tsz Ching Shopping Centre, Yau Oi Commercial Centre and Yung Shing Shopping Centre.

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UOB, ANZ Bank and Standard Chartered Hong Kong acted as mandated lead arrangers, underwriters and bookrunners on the transaction. UOB also acting as the facility and security agent, and SLL advisor.

The three-year SLL is tied to sustainability targets, including reducing electricity consumption, managing recyclable waste, implementing green leasing practices and obtaining WELL certification.