Great Portland brings ESG loans to UK REITs
The UK's Great Portland Estates is laying claim to issuing the first ever environmental, social and governance linked revolving credit facility for a REIT in the jurisdiction, in a week of firsts for sustainable lending.
The borrower has signed a £450m loan with a five year maturity. The maturity can be extended by up to two years.
Bank of China, Lloyds, NatWest, Santander and Wells Fargo provided the facility. Santander was sustainability coordinator.The borrower has three metrics to hit to qualify for more favourable ...