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Redefine Properties Limited R1,65bn Green Bond
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.
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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.
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.
Published 23 Jul 2024
