Unibail and Lloyds claim first loan with green pricing benefit

Unibail ceo Cuvillier from PA 230x150
By Jon Hay
06 Apr 2017

Lloyds Bank has arranged for Unibail-Rodamco, the French-Dutch property company, what it believes is the first syndicated loan that gives the borrower cheaper funding if it hits environmental targets.

The €600m revolving credit facility, which was increased from €500m after being oversubscribed, has its margin linked to a ratings grid, as is not unusual for investment grade borrowers. But the margin can also be raised or lowered according to whether Unibail hits three green key performance indicators.

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