Great Portland Estates PLC GPE signs new £150 million ESG-linked RCF
November 11 2024 - 1:00AM
RNS Regulatory News
RNS Number : 6112L
Great Portland Estates PLC
11 November 2024
11 November 2024
GPE
signs new £150 million ESG-linked Revolving Credit
Facility
Great
Portland Estates plc (GPE) announces that it has signed a new £150
million ESG-linked unsecured revolving credit facility (RCF) at a
headline margin of 90 basis points over SONIA. The facility has an
initial three-year term which may be extended to a maximum of five
years at GPE's request, subject to bank consent.
Alongside GPE's existing ESG-linked bank facilities, and the
recently announced £250 million sterling sustainable bond, the RCF
extends our weighted average debt maturity to over seven years. The
facility includes our innovative ESG KPI margin adjustments and our
standard unsecured financial covenants, in line with our existing
bank facilities.
Three
banks participated in the facility. Two existing relationship
banks, Lloyds Bank plc and Bank of China, together with CaixaBank
SA UK Branch, for whom the RCF represents their first banking
relationship with GPE. Lloyds Bank plc acted as the Documentation
Agent and Sustainability Coordinator.
Nick Sanderson, CF&OO,
said, "We are delighted to have arranged this new facility with
both existing and new relationship banks, demonstrating strong
support for our focused strategy. Along with our recent rights
issue and sustainable sterling bond, this facility provides further
flexibility for us to capitalise on the exciting pipeline of
opportunities that we are unearthing, accelerated by our recent
acquisitions of Whittington House and 19/23 Wells
Street"
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Great Portland Estates
plc
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+44
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(0)
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20
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7647
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3000
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Nick Sanderson, Chief Financial
& Operating Officer
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Martin Leighton, Joint Director of
Finance
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Holly Reynolds, Senior Corporate
Finance & Tax Manager
Charlie Turrell, Head of Commercial
Finance
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FGS Global
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James Murgatroyd
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+44
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(0)
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20
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7251
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3801
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Gordon Simpson
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For further information see
www.gpe.co.uk or follow us on X at @GPE_London
LEI Number:
213800JMEDD2Q4N1MC42
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