CBRE has signed a new $3.5bn green loan.
The new five-year agreement increases its revolving credit facility to $3.5bn from $3.15bn.
The facility includes incentives linked to achieving certain sustainability goals, including increasing the number of CBRE offices over 10,000 sq ft that achieve sustainability certificates, converting its North American vehicle fleet to electric vehicles, and ensuring it only deals with sustainable suppliers.
“The new facility enhances our capacity and flexibility to invest in CBRE’s growth while advancing our environmental, social and governance goals,” said Emma Giamartino, the company’s chief financial and investment officer. “We appreciate this continued vote of confidence from our lenders in our people, platform and strategy.”
The joint lead arrangers and joint bookrunners for the transaction were Wells Fargo Securities, BofA Securities, The Bank of Nova Scotia, HSBC Bank USA, National Association, JPMorgan Chase Bank, and National Westminster Bank.
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
