ESR nets $243 million with sustainability-linked loan
Investment manager ESR Group has secured its third sustainability-linked loan, of ¥28 billion ($243 million).
The five-year senior unsecured, committed corporate facility was extended by a consortium of Japanese banks, including Sumitomo Mitsui Banking Corporation and Mizuho Bank. ESR will be entitled to a reduction of the interest rate (initially TIBOR plus 1.8%) as sustainability targets are achieved. ESR would not reveal the specific targets and potential interest rate reductions.