ESR Group has closed its first ¥22 billion ($150 million) cross-border JPY syndicated Sustainability-Linked Loan (SLL).
This is the 10th SLL that ESR has closed, reinforcing the Group’s leadership in sustainable financing and operations. To date, the Group has closed a total of approximately $4.4 billion in SLL as it continues to integrate ESG into its financial management, operations and future planning.
In support of ESR’s efforts to further strengthen its ESG commitments, Mizuho Bank acted as the sole mandated lead arranger and bookrunner, as well as sole sustainability coordinator.
The SLL consists of five- and seven-year tranches and is a unsecured, committed facility. The loan is 1.7 times covered above the original syndication target and has a tiered incentive mechanism where ESR will be entitled to an interest reduction when the Group’s sustainability targets are achieved. The proceeds will be used to fund the Group’s refinancing of existing b
