RMB Provides Redefine Properties With R1 Billion Sustainability-Linked Bond

News Flash

  • Rand Merchant Bank (RMB) has supported Redefine Properties sustainability strategy with a R1bn sustainability-linked bond.
  • Redefine’s large local property portfolio comprises premium retail, office and industrial properties which are strategically spread across South Africa’s major metropolitan areas.
  • The bond is linked to renewable energy, greenhouse gas emission and water efficiency performance targets.

The funds will be used to refinance upcoming bond maturities and ultimately to enable Redefine to facilitate a reduction in greenhouse gas emissions, significantly enhance their water efficiency solutions, and measurably increase the use of solar energy in the South African portion of their portfolio.

This is the largest amount raised so far by a South African Real Estate Investment Trust (REIT) in the growing sustainability-linked bond market in South Africa. The outcome exceeded expectations and recognises Redefine’s improved balance sheet strength and bears testimony to the progress they have already made on the Environmental, Social and Governance (ESG) front.

Author: Bryan Groenendaal

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Green Building Africa promotes the need for net carbon zero buildings and cities in Africa. We are fiercely independent and encourage outlying thinkers to contribute to the #netcarbonzero movement. Climate change is upon us and now is the time to react in a more diverse and broader approach to sustainability in the built environment. We challenge architects, property developers, urban planners, renewable energy professionals and green building specialists. We also challenge the funding houses and regulators and the role they play in facilitating investment into green projects. Lastly, we explore and investigate new technology and real-time data to speed up the journey in realising a net carbon zero environment for our children.

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