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Landmark sustainability-linked loan indicates a shift towards sustainable finance solutions

28 Aug 2020

Country
South Africa
Year
2020
Sector
Real Estate
Business Unit
Real Estate Finance | Sustainable Finance
Specific Role
Sole Arranger and Lender
This JSE-listed real estate investment trust (REIT) has closed a sustainability-linked loan with us aimed at promoting the achievement of various environmental, social and corporate governance (ESG) targets.

Equites and Standard Bank have concluded a R1.6 billion sustainability-linked facility agreement comprising of two R800 million tranches. The interest rate is linked to Equites’ achievement of certain pre-agreed ESG performance targets. 

These target areas include: ESG integration, which relates to green building certifications and other metrics; product governance, which partly relates to occupier satisfaction; business ethics; and human capital, which partly relates to gender pay equality outcomes.