Select Country
Don’t have your Nedbank ID yet?
Nedbank ID single sign-on gives you full digital access to Nedbank’s banking and lifestyle products and services on the Money app or Online Banking.
Log in
Log in to Online Banking or another one of our secured services.
Award-winning in sustainable finance and digital
Deals
- R4bn Tronox deal funds two 100MW solar plants
- Billions to help Redefine build green properties
- Harmony pursues green goals with R10 billion loan
- Cold solutions finance for cold storage facilities
- International Finance Corporation green bond fund
- Envusa energy deal: The way for renewable energy
- Paladin Energy senior debt funding partnership
- Renewable energy wind farm financing
- Stor-Age’s successful inaugural bond auction
Women of Corporate Investment Banking
Young Analyst Programme
Articles
- Africa's pathway to a climate-resilient economy
- Commercial property trends 2022
- Green energy in the developing world | Nedbank CIB
- How sustainable finance creates value
- How the property sector recovered in 2023
- Two wins for sustainable finance leadership | Nedbank CIB
- FURTHER IMPACT empowerment for entrepreneurs
- There's a new buoyancy around water and sanitation
- What happens when finance meets sustainability?
- Africa’s renewable-energy projects
- Breaking barriers for energy transition in mining
Conferences
- African Mining Indaba | Nedbank CIB
- COP 28 | Nedbank CIB
- South Africa (SA) Auto Week | Nedbank CIB
- IHS Affordable Housing Conference | Nedbank CIB
- Africa Energy Forum | Nedbank CIB
- Africa Down Under Conference 2024 | Nedbank CIB
- Industry leaders talk innovation disruption | Nedbank CIB
- Market leaders in property finance | Nedbank CIB
Research
- Investor research
- Investor-research
- How loadshedding impacts inflation | Nedbank CIB
- Investor Research
- Investor Research
- Investor Research
- Investor Research
- Investor Research
- Investor Research
- Investor Research
- Investor Research
- SA inflation trends, insights and projections
- SA ex-ante real policy rate
- SARB: Shifting to a 25 bps hike, from 50 bps
- SARB MPC: Repo unchanged but still hawkish
- Bonds, the monetary surprise and fiscal dominance
- Upside for bond investments has compressed
- The "weak China trade" on the rand exchange rate
- Dovish inflation surprises and fiscal constraints
- The ILB curve steepens, and we expect more
- Investor Research
Corporate Finance
Financing
Investing
Markets
Nedbank Business Hub
Transacting
- Login & Register
- Online Banking
- Online Share Trading
- NedFleet
- Register for Nedbank ID
- Award-winning in sustainable finance and digital
- Deals
- R4bn Tronox deal funds two 100MW solar plants
- Billions to help Redefine build green properties
- Harmony pursues green goals with R10 billion loan
- Cold solutions finance for cold storage facilities
- International Finance Corporation green bond fund
- Envusa energy deal: The way for renewable energy
- Paladin Energy senior debt funding partnership
- Renewable energy wind farm financing
- Stor-Age’s successful inaugural bond auction
- R4bn Tronox deal funds two 100MW solar plants
- Billions to help Redefine build green properties
- Harmony pursues green goals with R10 billion loan
- Cold solutions finance for cold storage facilities
- International Finance Corporation green bond fund
- Envusa energy deal: The way for renewable energy
- Paladin Energy senior debt funding partnership
- Renewable energy wind farm financing
- Stor-Age’s successful inaugural bond auction
- Women of Corporate Investment Banking
- Young Analyst Programme
- Insights
- Articles
- Conferences
- Research
- Explore Insights
- Articles
- Africa's pathway to a climate-resilient economy
- Commercial property trends 2022
- Green energy in the developing world | Nedbank CIB
- How sustainable finance creates value
- How the property sector recovered in 2023
- Two wins for sustainable finance leadership | Nedbank CIB
- FURTHER IMPACT empowerment for entrepreneurs
- There's a new buoyancy around water and sanitation
- What happens when finance meets sustainability?
- Africa’s renewable-energy projects
- Breaking barriers for energy transition in mining
- Africa's pathway to a climate-resilient economy
- Commercial property trends 2022
- Green energy in the developing world | Nedbank CIB
- How sustainable finance creates value
- How the property sector recovered in 2023
- Two wins for sustainable finance leadership | Nedbank CIB
- FURTHER IMPACT empowerment for entrepreneurs
- There's a new buoyancy around water and sanitation
- What happens when finance meets sustainability?
- Africa’s renewable-energy projects
- Breaking barriers for energy transition in mining
- Conferences
- African Mining Indaba | Nedbank CIB
- COP 28 | Nedbank CIB
- South Africa (SA) Auto Week | Nedbank CIB
- IHS Affordable Housing Conference | Nedbank CIB
- Africa Energy Forum | Nedbank CIB
- Africa Down Under Conference 2024 | Nedbank CIB
- Industry leaders talk innovation disruption | Nedbank CIB
- Market leaders in property finance | Nedbank CIB
- African Mining Indaba | Nedbank CIB
- COP 28 | Nedbank CIB
- South Africa (SA) Auto Week | Nedbank CIB
- IHS Affordable Housing Conference | Nedbank CIB
- Africa Energy Forum | Nedbank CIB
- Africa Down Under Conference 2024 | Nedbank CIB
- Industry leaders talk innovation disruption | Nedbank CIB
- Market leaders in property finance | Nedbank CIB
- Research
- Investor research
- Investor-research
- How loadshedding impacts inflation | Nedbank CIB
- Investor Research
- Investor Research
- Investor Research
- Investor Research
- Investor Research
- Investor Research
- Investor Research
- Investor Research
- SA inflation trends, insights and projections
- SA ex-ante real policy rate
- SARB: Shifting to a 25 bps hike, from 50 bps
- SARB MPC: Repo unchanged but still hawkish
- Bonds, the monetary surprise and fiscal dominance
- Upside for bond investments has compressed
- The "weak China trade" on the rand exchange rate
- Dovish inflation surprises and fiscal constraints
- The ILB curve steepens, and we expect more
- Investor Research
- Investor research
- Investor-research
- How loadshedding impacts inflation | Nedbank CIB
- Investor Research
- Investor Research
- Investor Research
- Investor Research
- Investor Research
- Investor Research
- Investor Research
- Investor Research
- SA inflation trends, insights and projections
- SA ex-ante real policy rate
- SARB: Shifting to a 25 bps hike, from 50 bps
- SARB MPC: Repo unchanged but still hawkish
- Bonds, the monetary surprise and fiscal dominance
- Upside for bond investments has compressed
- The "weak China trade" on the rand exchange rate
- Dovish inflation surprises and fiscal constraints
- The ILB curve steepens, and we expect more
- Investor Research
- Solutions
- Corporate Finance
- Financing
- Investing
- Markets
- Nedbank Business Hub
- Transacting
- Explore Solutions
- Corporate Finance
- Financing
- Investing
- Markets
- Nedbank Business Hub
- Transacting
- Sustainability
- Explore Sustainability
- Contact us
- Explore Contact us
- Contact us
- Explore Contact us
R3,1bn sustainability-linked debt facility for Old Mutual
R3,1bn sustainability-linked debt facility for Old Mutual
Staff writer
Posted 11/05/2023 Updated 08/04/2024 2 mins
Old Mutual set to reduce carbon emissions and invest in more SMMEs.
The strong and long-standing working relationship between Nedbank and Old Mutual has given rise to a number of significant milestones in the sustainable development, loan financing and bond market funding journeys of both parties. The most recent of these is the successful conclusion of a R3,125 billion sustainability-linked revolving credit facility, which represents a first of its kind for Old Mutual.
Old Mutual formally mandated Nedbank Corporate and Investment Banking (CIB) to take a leading role in structuring, coordinating and refinancing its maturing revolving credit facility (RCF) by acting in several capacities, including mandated lead arranger, co-ordinator, sustainability co-ordinator, sustainability agent, documentation agent, and publicity agent.
The resulting R3bn-plus sustainability-linked loan facility, largely developed and engineered by Nedbank CIB, in collaboration with Old Mutual, aligns with, and supports, Old Mutual’s sustainability strategy and ambitions, and delivers on an array of financial objectives for the group. These include a broader, more diversified lender group, as well as the option to extend the facility by up to one year.
Casper Troskie, Chief Financial Officer at Old Mutual, says that the new sustainability linked RCF has been designed to underpin the group’s commitment to driving sustainable development progress. It does this by linking the terms of the loan to key performance indicators that focus on two key sustainability themes, namely reducing the intensity of carbon emissions and investment into SMME businesses, which are both sustainability priorities for Old Mutual and the country.
“The carbon intensity reduction targets embedded in the RCF align with Old Mutual’s decarbonisation strategy and our commitment to climate change mitigation through our operations”, says Troskie, “and the SMME targets underpin our long-standing commitment to leveraging the power of small and medium enterprise development as an effective means of addressing poverty, inequality and unemployment in the country.”
According to Arvana Singh, Head of Sustainable Finance Solutions, as arranger, co-ordinator and majority funder under Old Mutual’s first ZAR based sustainability linked loan, Nedbank CIB was able to ensure an optimal financing outcome for Old Mutual while simultaneously progressing systems value objectives aligned with the United Nations Sustainable Development Goals. Nedbank CIB’s understanding of Old Mutual’s business and its sustainability and ESG ambitions, combined with its proven sector finance, sustainable finance and syndication expertise, were key in its ability to successfully lead arrange, fund and implement the transaction.”
“We recognise the interconnectivity between the economic, social and environmental systems we operate in, and the urgency to transform our collective growth path to one that is more socially inclusive, low carbon and resource efficient. Collaborating in this way practically enables us to transform the financial services sector to meet the changing needs of our people and planet,” concludes Troskie.
About Nedbank
Nedbank Group is one of South Africa's four largest banking groups, with Nedbank Limited as its principal banking subsidiary. The group offers a wide range of wholesale and retail banking services, including business, corporate and retail banking, commercial property finance, investment banking, private banking, foreign exchange and securities trading.
Nedbank holds leadership positions in renewable-energy finance, corporate lending, commercial property finance, retail vehicle finance, card acquiring and asset management, as well as digital product innovation. In 2019, Nedbank became the first South African commercial bank to launch a green renewable energy bond into the debt capital market. For more information. visit www.nedbank.co.za
Related posts
See allR1 billion debt capital market issuance by OMLACSA
Nedbank Corporate and Investment Banking (CIB) is proud to announce that its Specialised Distribution Team has once again been mandated as sole lead arranger by Old Mutual Life Assurance Company South Africa Limited (OMLACSA), a subsidiary of Old Mutual Limited (OML), in its return to the South African debt capital markets for a R1 billion bond issuance.
By Staff writer
Published 23 Jul 2024 in nedbank:cib/deals
R1 billion debt capital market issuance by OMLACSA
Nedbank Corporate and Investment Banking (CIB) is proud to announce that its Specialised Distribution Team has once again been mandated as sole lead arranger by Old Mutual Life Assurance Company South Africa Limited (OMLACSA), a subsidiary of Old Mutual Limited (OML), in its return to the South African debt capital markets for a R1 billion bond issuance.
Staff writer
Published 23 Jul 2024