{"id":28367,"date":"2022-10-25T16:16:11","date_gmt":"2022-10-25T16:16:11","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/africas-biggest-bank-arranges-306-million-esg-loan-for-gritt"},"modified":"2022-10-25T16:24:40","modified_gmt":"2022-10-25T16:24:40","slug":"africas-biggest-bank-arranges-306-million-esg-loan-for-gritt","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/africas-biggest-bank-arranges-306-million-esg-loan-for-gritt","title":{"rendered":"Africa\u2019s biggest bank arranges $306 million ESG loan for Gritt"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Grit Real Estate Income Group is raising as much as R5.5 billion in a sustainability linked debt deal arranged by Standard Bank Group and other South African lenders.<\/p>\n

The term loan and revolving credit facility that is linked to Grit\u2019s ESG, carbon-emissions reduction and gender-equality targets is the largest real-estate industry transaction to date in sub-Saharan Africa, excluding South Africa, the company said in a statement on Wednesday. The money will be used to will replace R5 billion of Grit\u2019s debt, and secure funding for a Club Med redevelopment project in Senegal, it said.<\/p>\n

\u201cBy refinancing almost all of our existing debt exposures into a single sustainability linked facility, we are streamlining our loan management process and bolstering our commitment to our ESG targets, including carbon-emission reduction and gender equality,\u201d Grit chief executive officer Bronwyn Knight said.<\/p>\n

The issuance of sustainability linked debt is booming worldwide, and African companies like Grit are increasingly making use of potential rewards such as better pricing linked to the loans. Banks usually offer borrowers discounts on lending if they meet targets for tackling issues ranging from reducing pollution to assisting job seekers. Companies unable to meet commitments are penalised.<\/p>\n

Global issuance of loans linked to borrowers\u2019 environmental, social and governance performance surged to almost $500 billion in 2021 from $4.9 billion in 2017.<\/p>\n

Similar deals this year elsewhere in the world include Spanish phone company Telefonica SA amending its core debt facility to commit to lower carbon emissions and more women in executive roles. Turkish lender Akbank TAS raised a $660 million loan with pricing tied to the amount of renewable energy it sourced and the number of expiring plastic cards it replaced with recycled ones.<\/p>\n

The transaction is expected to be finalised by the end of October and is supported by Standard Bank, Absa Group and Nedbank Group It will cover the company\u2019s assets and debt facilities on a corporate level, and in Mozambique, Ghana, Zambia and Senegal.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Grit Real Estate Income Group is raising as much as R5.5 billion in a sustainability linked debt deal arranged by Standard Bank Group and other South African lenders. The term loan and revolving credit facility that is linked to Grit\u2019s ESG, carbon-emissions reduction and gender-equality targets is the largest real-estate industry transaction […]<\/p>\n","protected":false},"author":84,"featured_media":28365,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-28367","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nAfrica\u2019s biggest bank arranges $306 million ESG loan for Gritt - Mozambique<\/title>\n<meta name=\"description\" content=\"Grit Real Estate Income Group is raising as much as R5.5 billion in a sustainability linked debt deal arranged by Standa ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/africas-biggest-bank-arranges-306-million-esg-loan-for-gritt\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Africa\u2019s biggest bank arranges $306 million ESG loan for Gritt\" \/>\n<meta property=\"og:description\" content=\"Grit Real Estate Income Group is raising as much as R5.5 billion in a sustainability linked debt deal arranged by Standa ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/africas-biggest-bank-arranges-306-million-esg-loan-for-gritt\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-25T16:16:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-25T16:24:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/10\/postQueueImg_2-63580da1f3e9d.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"496\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/africas-biggest-bank-arranges-306-million-esg-loan-for-gritt#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/africas-biggest-bank-arranges-306-million-esg-loan-for-gritt\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Africa\u2019s biggest bank arranges $306 million ESG loan for Gritt\",\"datePublished\":\"2022-10-25T16:16:11+00:00\",\"dateModified\":\"2022-10-25T16:24:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/africas-biggest-bank-arranges-306-million-esg-loan-for-gritt\"},\"wordCount\":345,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/africas-biggest-bank-arranges-306-million-esg-loan-for-gritt#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/10\/postQueueImg_2-63580da1f3e9d.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/africas-biggest-bank-arranges-306-million-esg-loan-for-gritt#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/africas-biggest-bank-arranges-306-million-esg-loan-for-gritt\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/africas-biggest-bank-arranges-306-million-esg-loan-for-gritt\",\"name\":\"Africa\u2019s biggest bank arranges $306 million ESG loan for Gritt - 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