Grit Real Estate Income Group, a London-listed investor in African real estate, is close to sealing a deal to refinance its borrowing with sustainability-linked facilities.
The company told investors in a market update that a syndication is “underway and progressing well”. Standard Bank is leading a $306m (£252m) debt syndication covering assets and borrowing in Mozambique, Zambia, Ghana and Senegal.
Grit has $409.2m (£337.3m) in outstanding debt, including $46.2m held within its associates. The company said it aims to consolidate its debt into one sustainability-linked loan linked to ESG targets including carbon emission reduction and gender equality.
The deal is expected to close by the end of September and to include existing lenders including Bank of China.
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