GPE signs new £150m ESG revolving credit facility

LONDON (dpa-AFX) – Great Portland Estates Plc (GPOR.L), a real estate developer and investor, said on Monday it has launched a new ESG-linked, unsecured revolving credit facility or RCF of 150 million pounds with a total margin of Has signed 90 basis points over SONIA.

Nick Sanderson, Chief Financial and Operating Officer, said: “Together with our recent rights issue and our sustainable pound bond, this facility provides us with further flexibility to capitalize on the exciting pipeline of opportunities we are uncovering, accelerated by our recent acquisitions from Whittington. “House and 19/23 Wells Street”

The term of the facility is initially three years and can be extended to a maximum of five years at the request of the GPE.

Three lenders participated in the facility. Two existing relationship banks, Lloyds Bank Plc and Bank of China, as well as CaixaBank SA UK Branch, for which the RCF represents its first banking relationship with the company.