CapitaLand India Trust (CLINT) secures $200 million sustainability-linked loan (SLL) from the International Finance Corporation (IFC), a member of the World Bank Group.
The SLL will be used to re-finance its existing revolving credit facilities (RCFs). This will also unlock additional availability of the RCFs, reduce CLINT’s finance cost and further diversify its funding sources, according to a release by CLINT on May 30.
This brings the group’s sustainable finance to $1.16 billion, or 79% of its total loans.
CLINT has two key performance indicators for this SLL. The first is to reduce the absolute greenhouse gas (GHG) emissions of its IT business park portfolio as at Dec 31, 2023 by 40.5% from the baseline year of 2019 during the 5-year loan term.
The second is to obtain the Excellence in Design for Greater Efficiencies (EDGE) certification for three selected IT business parks — International Tech Park Chennai, CyberVale, and aVance Pune, by 2026.
“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,” says Sanjeev Dasgupta, CEO of CapitaLand India Trust CY6U Management.
See also: Changes in ICR, leverage to come into effect immediately, with additional disclosures in March
Units in CLINT closed flat at $1.05 on May 30.
