02 July 2021

MERCATUS BAGS ITS THIRD GREEN LOAN OF S$200M FROM DBS BANK

Mercatus Co-operative Limited (“Mercatus”) is pleased to announce that it has obtained a S$200m green loan from DBS Bank to refinance an existing loan which was for the acquisition of Jurong Point, one of its green buildings. This marks Mercatus’ third green loan under its Sustainable Finance Framework (“Framework”). Todate, Mercatus has secured green financing totalling S$628m, having secured S$428m of green loans earlier in 2020.

The Framework is guided by the (i) Green Bond Principles (2018) and (ii) Sustainability Bond Guidelines (2018) by the International Capital Market Associations, (iii) Green Loan Principles (2021) and (iv) Social Loan Principles (2021) by the Loan Market Association, Loan Syndications & Trading Association and the Asia Pacific Loan Market Association, and (iv) Green Bond Standards and (v) Sustainability Bond Standards by the ASEAN Capital Markets Forum (together “the Principles”).

All of Mercatus’ commercial properties have attained BCA Green Mark certification, with Jurong Point achieving the BCA Green Mark Platinum rating in January 2020.

Ms Tan Ser Joo, Chief Executive Officer, Mercatus said, “We are delighted to be partnering DBS Bank once again, to advance our corporate sustainability agenda through green financing. As a responsible real estate investor, owner and manager of real estate, we strive to deliver sustainable long-term returns and will continue to build upon the sustainability initiatives for Jurong Point while incorporating ESG principles across our portfolio.”

Mr Ang Teck Wee, Head of Government Linked Corporations, DBS Bank said, “With global efforts focused on achieving a low carbon economy within the current decade, we are committed to supporting Mercatus as it forges ahead on its sustainability journey. As a purpose-driven bank, we believe in supporting businesses for good and are delighted to collaborate with like-minded partners like Mercatus which are committed to sparking positive change by transitioning towards more carbon efficient operations.”

As Mercatus expands its portfolio of commercial real estate both locally and globally, it remains committed towards growing sustainably as guided by the five key pillars under its Sustainability Framework: value creation; human capital management; strong institutions; environment and social progression.