Completion of OUE Bayfront Refinancing with First Green Loan
[胜利] Anchored by the recent upgrade of OUE Bayfront’s BCA Green Mark certification from Gold to Platinum, we are delighted to share the successful completion of the early refinancing of OUE Bayfront through our 𝐟𝐢𝐫𝐬𝐭 𝐠𝐫𝐞𝐞𝐧 𝐥𝐨𝐚𝐧 of $600 million, alongside $225 million in revolving credit facilities and a $5 million bank guarantee. With the New Facilities in place, only 22.5% of OUE REIT’s total debt (including proportionate share of loans at OUB Centre Limited and OUE Allianz Bayfront LLP) will be due in 2026. On a pro forma basis, the weighted average cost of debt will decrease by approximately 10 basis points to 4.1% p.a. (excluding the one-time write-off of upfront fee of the existing facilities) from 4.2% p.a. as of 30 June 2025, while the weighted average term of debt will be extended to 2.9 years from 2.7 years.
Mr Han Khim Siew, Chief Executive Officer of the Manager, said, “This timely refinancing allows OUE REIT to capitalise on our green credentials and the recent decline in the Singapore Overnight Rate Average to achieve significant interest cost savings compared to the existing facilities. Post refinancing, the proportion of green and sustainability-linked financing will increase to 86.1% of OUE REIT’s total borrowings (including proportionate share of loans at OUB Centre Limited and OUE Allianz Bayfront LLP) as of 30 June 2025 on a pro forma basis. Going forward, green and sustainability-linked financing will remain a key pillar of our capital management strategy, as we seek to enhance financial flexibility and optimise borrowing costs in support of both our growth plans and our sustainability goals.”
DBS Bank and Oversea-Chinese Banking Corporation (OCBC) are the joint green loan coordinators of the Green Loan.
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