Standard Bank Partners With Grit In Largest Sustainability Linked Real Estate Transaction In Sub-saharan Africa
Standard Bank Partners With Grit In Largest Sustainability Linked Real Estate Transaction In Sub-saharan Africa. Standard Bank is proud to announce that it has recently partnered with Grit Real Estate Income Group to provide them with a USD306-million sustainability linked term loan and revolving credit facility, which will be the largest sustainability linked real estate transaction in sub-Saharan Africa.
Grit is a leading pan-African real estate company focused on investing in and actively managing a diversified portfolio of assets in carefully selected African countries (excluding South Africa). The group partners with multinational blue-chip tenants across their real estate needs in Africa (excluding South Africa) and is focused on a range of property sectors including corporate offices, retail shopping centres, hospitality assets, logistics and distribution warehouses and corporate accommodation.
Standard Bank was appointed as the sole mandated lead arranger to restructure and refinance USD306 million of facilities, which included some additional development funding. The facility is sustainability linked, which is focused on encouraging Grit to make positive social, environmental and economic changes in how they manage their business. Its purpose is to drive Africa’s growth, the company believes it is a catalyst for inclusive and sustainable economic growth in the countries it operates and it makes life better for its fellow Africans by doing business the right way.
Grit is a multi-listed real estate income group that generates superior US dollar and Euro yield for investors. The company achieves these yields by investing in a diversified portfolio of high-quality real estate assets across the African continent and Indian Ocean Islands (excluding South Africa) anchored by blue chip, international tenants.
