Nedbank arranges R500m sustainability-linked loan for Old Mutual Property

Financial services firm Nedbank Corporate and Investment Banking (CIB) has coordinated, arranged and structured a R500-million sustainability-linked credit facility for Old Mutual Property to encourage increased consumption of renewable energy as a percentage of Old Mutual Property’s total energy mix and enhance grey and black water recycling plants at the six main shopping centres in its retail property portfolio. The five-year term loan was made possible through a shared understanding between Nedbank CIB and Old Mutual Property of the importance of driving sustainability forward in key economic sectors, such as the retail property industry, which is a relatively large user of electricity and water, said Nedbank CIB head of sustainable finance solutions Arvana Singh.