Unite Group PLC - Bristol-based student accommodation developer - Agrees a GBP450 million sustainability-linked unsecured revolving credit facility. The facility has an initial term of three and a half years, which can be extended by a further two years, subject to lender consent. The RCF was signed with HSBC Holdings PLC, NatWest Group PLC and Royal Bank of Canada.
The RCF incorporates sustainability-linked performance targets including one tied to a reduction in carbon emissions and another aiming to make buildings more energy-efficient.
"Our first sustainability-linked loan is a significant milestone for our sustainability strategy. We have clear objectives to become a net zero carbon business by 2030, while delivering a positive social impact through our work with our employees, students and local communities," says Chief Financial Officer Joe Lister.
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By Will Paige; willpaige@alliancenews.com
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HSBC Holdings (HSBA)
Unite (UTG)
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