Lendlease Global CREIT bags $100m sustainability-linked term loan facility

Proceeds will be used to refinance a loan due in FY23.

Lendlease Global Commercial REIT (LREIT) bagged a $100m unsecured sustainability-linked term loan facility (SLL), its manager announced. 

Proceeds will be used to refinance a loan due in FY23, and for fees and expenses related to the SLL, added the manager. 

The SLL will likewise allow the LREIT to enjoy savings in borrowing costs whilst “incorporating interest rate reductions linked to predetermined sustainability performance targets.”

“This latest sustainability-linked loan marks the continuation of LREIT’s sustainability journey, with sustainable financing now accounting for more than 60% of total borrowings, increasing from 56% previously,” Kelvin Chow, CEO of LREIT’s manager, said.

In February 2022, LREIT established $860m sustainability-linked term loan facilities.