V&A Waterfront, RMB partner on R1bn syndicated green loan
Financial company RMB has partnered with Cape Town retail, commercial and lifestyle precinct V&A Waterfront (V&A), jointly held by Growthpoint and Government Employees Pension Fund as the sustainability coordinator and debt documentation bank for a R1-billion syndicated green loan.
“The V&A has always considered sustainability to be an integral component of our business strategy. Our specific goals are to drive sustainability, opportunity and inclusivity through our work and strategically leverage our ecosystem to provide value to all stakeholders.
“We are proud that we have been able to partner with RMB, as an experienced sustainability coordinator, and other banks, to leverage our existing green assets to raise green loans in our inaugural fund raise in the syndicated loan market, while securing the flexibility to raise sustainability linked loans in the future,” says V&A CFO Antoinette Basson.
RMB, as sustainability coordinator, says it developed a credible, standardised sustainable financing structure which explicitly addresses each of the four pillars of the Loan Markets Association’s (LMA’s) green loan principles (GLPs).
“We mapped and aligned V&A’s eligible green assets to the GLPs. In addition, we were able to support V&A with a strategy on how to optimise their pool of green assets to futureproof V&A’s ability to raise additional green loans,” says RMB Sustainable Finance Solutions transactor Danielle Frank.
RMB also supported V&A in the execution of the transaction as the debt documentation bank. As this was V&A’s inaugural fundraising initiative in the syndicated loan market, it was noted to be essential to ensure a successful transaction to set V&A on the path for future loan syndications.
“Importantly, the V&A needed to strike a balance between future-proofing the structure of the loan from a sustainability perspective, while considering the flexibility needed to adapt to a rapidly evolving sustainable finance market.
“Through this transaction, the V&A set a benchmark for its first syndicated debt raise and enhanced its already strong sustainability profile,” says RMB Loan Syndications transactor Simone Daws.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation