Media release | 23 June 2023
- Converting $520 million of existing debt facilities into an SLL with interest margin reductions tied to the achievement of predetermined sustainability Key Performance Indicators (KPIs) and targets
- KPI themes are decarbonisation of Scope 1, Scope 2 and Scope 3 emissions, and performance measured against the National Australian Built Environment Rating System (NABERS) and the Global Real Estate Sustainability Benchmark (GRESB)
- The SLL supports Growthpoint’s commitment to improving the sustainability performance of our operations, and thereby creating value for securityholders
Growthpoint Properties Australia Limited (ASX: GOZ) (Growthpoint), a leading Real Estate Investment Trust (REIT), is pleased to announce the successful completion of a $520 million SLL with ANZ Banking Group Limited (ANZ). This SLL is a first for Growthpoint and further demonstrates Growthpoint's commitment to sustainable practices.
The SLL’s key feature is four KPIs that are aligned with Growthpoint’s sustainability strategy. The loan's interest margin is tied to the achievement of annual sustainability targets under each of the KPIs. A second party opinion has been provided by Sustainalytics, who determined the KPIs to be in line with the five core components of the Sustainability Linked Loan Principles 2023.
Dion Andrews, Chief Financial Officer of Growthpoint, said "We are delighted to enter into this significant SLL funding arrangement with ANZ. This partnership underscores our commitment to environmental stewardship and responsible business practices. Sustainable finance will play an integral part of Growthpoint’s decarbonisation pathway by providing a platform to further improve the sustainability performance of our operations. By aligning our financial strategies with our sustainability goals, we aim to create lasting positive impact while driving value for our securityholders.”
Tania Smith, Director Sustainable Finance at ANZ said: “ANZ is pleased to support Growthpoint in leading and structuring its inaugural sustainable finance transaction. This SLL supports their corporate sustainability initiatives through incentivising improved performance for the benefit of the communities in which they operate. At ANZ, we look forward to continuing to support Growthpoint in their sustainability journey and as they transition to net zero by 2025.”
With the successful completion of this inaugural $520 million SLL, Growthpoint continues to demonstrate its commitment to sustainability initiatives across the business and dedication to creating long-term value through responsible business practices.
This SLL is issued in accordance with Growthpoint’s Sustainable Debt Framework, which outlines the process under which Growthpoint intends to issue and manage its sustainable debt products across its operations. More information on the framework can be found here.
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