ISPT issues second Sustainability Linked Loan
In line with our commitment to ESG excellence, ISPT has restructured the ISPT Retail Australia Property Trust’s (IRAPT) bank facilities of $495M to align with the Sustainability Linked Loan (SLL) Principles. This follows the SLL facility of $2.8B completed for the ISPT Core Fund in April, making ISPT the largest SLL issuer in Australia.
Leading with transparency
The restructure of each Fund’s bank facilities to a SLL format is an industry leading, and a bold demonstration of our commitment to ESG excellence. It adds an extra layer of transparency and accountability to our operations and ensures we’re in alignment with our ESG strategy and goals.
Alicia Maynard, General Manager, Sustainability & Technical Services said: “Our responsible approach to investing means everything we do is underpinned by our commitment to ESG excellence, including the way debt is raised and applied across our Funds. While the ISPT Core Fund’s facility is the largest of this nature in Australia, incorporation of the SLL provisions into IRAPT’s facility agreement makes ISPT a clear market leader in this space.”
The SLL facility represents 100% of IRAPT’s bank debt and has been completed in conjunction with the refinance of $150M in bank facilities with our banks, CBA and Westpac, acting as joint sustainability co-ordinators and lenders.