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ANZ has played a key role in helping Queensland asset manager and sovereign investor, QIC, convert $A3.75 billion worth of existing facilities into sustainability-linked loans (SLL).
The deal saw QIC Real Estate secure SLLs for its two largest real-estate funds, QIC Property Fund (QPF) and QIC Town Centre Fund (QTCF), which include property assets located in Queensland, New South Wales, the Australian Capital Territory and Victoria. ANZ acted as joint sustainability coordinator alongside two other banks on the transaction.
ANZ General Manager, Institutional Property and Health, Jo Scotney said the bank was supportive of the move by QIC, a valued client of ANZ.
“The sustainability-linked loans have been structured with ambitious targets designed to drive continuous improvement across a range of environmental and social considerations that are material to the funds,” she said.
“These transactions reinforce QIC Real Estate’s strong commitments towards sustainability, which ANZ is proud to support.”
The funds’ SLLs include five sustainability performance targets linked to the interest rate margin, relating to green building ratings, carbon emission reduction plans and Cleaning Accountability Framework certifications. The loans were confirmed to be in line with the Sustainability Linked Loan Principles.
The deal is another step in ANZ’s support for its customers' transition towards a low-carbon economy. In September, ANZ acted as export credit agency and green loan coordinator, mandated lead arranger and bookrunner on a $US1.35 billion, green-labelled K-Sure covered term-loan facility for Hyundai Motor Group.
In May, ANZ helped French group Verkor secure funding for an electric-vehicle (EV) gigafactory in France. The €1.3 billion green loan facility will support the construction of a 16GWh EV battery plant, assisting in the transition to electrified transportation. ANZ acted as joint green loan co-ordinator and senior mandated lead arranger on that deal.
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