Derwent raises £300m ‘green’ loan
Derwent London has raised a “green” tranche of £300m, which will focus on sustainable developments.
It marks the first revolving credit facility provided to a UK REIT that meets the Loan Market Association’s green loan principles on sustainable development.
The financing forms part of a new £450m five-year facility agreed with HSBC UK, Barclays and NatWest.
Derwent London has raised a “green” tranche of £300m, which will focus on sustainable developments.
It marks the first revolving credit facility provided to a UK REIT that meets the Loan Market Association’s green loan principles on sustainable development.
The financing forms part of a new £450m five-year facility agreed with HSBC UK, Barclays and NatWest.
Paul Williams, chief executive of Derwent London, said: “Sustainability is fundamental to our business at Derwent London, and it helps drive the creation of some of London’s most innovative office space.
“In the last five years we have invested over £750m and this facility will support the next generation of Derwent’s buildings while recognising our social and environmental obligations to all our stakeholders.”
Damian Wisniewski, chief financial officer at Derwent London, said: “Linking part of our financing to our projects’ green credentials is an important step towards understanding how we can help reduce our impact upon climate change. This new five-year facility will also increase our weighted average debt maturity.”
For more on sustainability in real estate: EGSustainability hub
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