Maybank Singapore wins ABF Corporate and Investment Banking Awards for Global Banking and largest-ever SLL amongst Singapore REITs in 2022

The bank continues to develop innovative financing solutions to fund new projects and ventures in sustainability solutions.

Maybank Singapore took home two major titles at the ABF Corporate and Investment Banking Awards: the Corporate & Investment Bank of the Year – Singapore award and the Green Deal of the Year – Singapore award, for its key role in facilitating the largest sustainability-linked loan (SSL) in the real estate sector at the time with OUE Commercial Real Estate Investment Trust (OUE Commercial REIT).

ABF Corporate and Investment Banking Awards honour banks and financial institutions that have demonstrated exceptional performance and have made significant contributions to the corporate and investment banking industry.

As a leading bank in Singapore and a part of the Maybank group, South East Asia’s fourth largest bank by assets, Maybank Singapore (Maybank) has established itself as the “local foreign bank” since 1960 which understands the banking needs of its customers — retail, corporate, and institutional.

A bank that walks the talk to abide by its mission of Humanising Financial Services, Maybank’s Global Banking arm has exemplified this through its pivotal role in originating the largest ever SLL amongst Singapore REITs at the time for OUE Commercial REIT. The S$978m unsecured SLL was syndicated by a consortium of four mandated lead arrangers and bookrunners. Together with the other three mandated lead arrangers and bookrunners, the bank introduced new lenders to the client, which led to the SLL being very well-supported by 19 banks, with an oversubscription of more than 1.25 times. 

The SLL has effectively mitigated OUE Commercial REIT’s refinancing risk and significantly increased the proportion of its unsecured debt from 30.9% to 69.7% on a pro forma basis. This enabled OUE Commercial REIT to enjoy greater financial flexibility and enhanced the REIT’s access to a wider range of funding sources.

Maybank was also the sole green financier for the world’s first Islamic green financing in the hospitality sector with Royal Group of Companies in March 2021, marking the latter’s first foray into sustainability finance, which Maybank financed with SGD250m to support its expansion plans.

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Maybank Singapore Head of Global Banking Gregory Seow highlighted that its successful collaboration with other entities showcases the growing importance of sustainability-linked financing in the industry and is aligned with the bank’s commitment to integrate ESG principles into its business. 

“As we seek to be the regional hub for Islamic green financing and sustainability-linked solutions, we will continue to contribute towards building sustainable communities,” Seow said.