Stride Property Ltd & Stride Investment Management Ltd (NZX: SPG) $600m Bank Refinancing Completed

Thursday 16th December 2021

Stride Property Group (Stride) is pleased to announce that it has completed a refinancing of its bank debt facilities across a consortium of six banks, increasing total facilities available from $455 million to $600 million. This debt applies across Stride’s office and town centre portfolios and has increased the weighted average tenor across its facilities to 3.7 years.

$400 million of the facilities are classified as green loan facilities in accordance with the Green Finance Framework of Fabric Property Limited, a wholly owned subsidiary of Stride Property Limited which owns office properties. The Framework has been developed to be consistent with the Asia Pacific Loan Market Association (APLMA) Green Loan Principles (2021).

The lenders for the green loan facilities are ANZ, CCB, HSBC, ICBC, MUFG, and Westpac. ANZ acted as Lead Arranger and Sole Sustainability Co-ordinator for the green loan facilities.

Philip Littlewood, Stride’s Chief Executive, commented “Stride is committed to building a sustainable business, and we are pleased to further our sustainability strategy with our first green loan facilities. We appreciate the support of our lenders to reach this important milestone”.

Please see the link below for details

Stride Property Group - $600m Bank Refinancing Completed - 161221.pdf

Source: Stride Property Ltd & Stride Investment Management Ltd

Comments from our readers

No comments yet