OCBC-makes-first-property-renewable-loan-in-South-Korea-e

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OCBC Bank has provided the natural loan of 116 million South Korean won (S$132. 6 million) to be able to M&G Real Estate Most of asia to refinance an purchase in Northgate, a efficient building in Seoul's middle business district, with the bank as the sole financial institution and green adviser.



The loan is South Korea's very first green loan supporting the house market, OCBC said in the statement on Thursday (Aug 21). It is definitely in addition the bank's very first lasting finance transaction around the country.

햇살론 will be used in order to refinance existing advances within M&G Asia Property Finance, which have been extended for the particular investment inside Northgate. Often the fund can be managed by simply M&G Real-estate Asia.

Northgate is a high-rise business office building with green characteristics, like rainwater recycling programs, water-efficient fixtures, LED lamps in common areas, together with making automation systems to help control home heating, ventilation, weather conditioning and lights. Environmentally-friendly materials are also employed inside the building's cleaning together with general upkeep.

In 2016, Northgate received the Control throughout Energy and Ecological Design for Existing Buildings Procedures in addition to Preservation Gold rating through the US Green Developing Authorities.

OCBC Bank head of worldwide corporate banking Elaine Lam said the provider is looking to raise its lasting finance account to help S$25 billion by way of 2025.

Shares of OCBC was down eight cents or perhaps 0. 9 per penny to $8. seventy five upon an ex-dividend basis on the midday break with Friday.