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- 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
- Empowering FURTHER IMPACT entrepreneurs | Nedbank CIB
- 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
- Empowering FURTHER IMPACT entrepreneurs | Nedbank CIB
- What happens when finance meets sustainability?
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- Breaking barriers for energy transition in mining
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- SARB MPC: Repo unchanged but still hawkish
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Redefine Properties Limited R1,65bn Green Bond
Redefine Properties Limited R1,65bn Green Bond
Staff writer
Posted 11/05/2023 Updated 08/04/2024 2 mins
Property Finance concludes a Green Bond in a R5bn debt-refinancing package.
The debt package comprises a combination of revolving credit facilities and listed green bonds. The green bond is a milestone achievement, as it represents the first green bond structured and concluded by Nedbank CIB for a corporate client. The proceeds from Redefine’s green bond will be used exclusively to finance a portfolio of green buildings certified by the Green Building Council of South Africa (GBCSA) with ratings of four green stars and above.
The deal was a culmination of a successful collaboration between the Property Finance, Debt Capital Markets and Sustainable Finance Solutions teams, with the objective of supporting Redefine’s current funding needs in a manner that would allow for further opportunities to expand Nedbank’s share of wallet and protect Nedbank’s leading-lender position. The refinancing extends Redefine’s debt maturity profile, while enhancing the liquidity of Nedbank’s HQLA portfolio and returns for CIB.
The solution was innovative in that it unlocked a financing opportunity to fund a portfolio of operationally efficient GBCSA-certified green buildings that promote a combination of energy-, water- and waste-efficient practices by means of a green bond. The green bonds were structured into two listed green notes issued under Redefine’s Johannesburg Stock Exchange (JSE)-listed Domestic Medium Term Note Programme and are listed on the Sustainability Segment of the JSE.
The deal enhances our status as a leading sustainable finance provider offering innovative, client-focused solutions and further strengthens our relationship with Redefine.