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NEPI Rockcastle signs €175M ESG-linked revolving credit facility

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NEPI Rockcastle signs €175M ESG-linked revolving credit facility

NEPI Rockcastle PLC signed an environmental, social and governance-linked three-year unsecured revolving credit facility worth €175 million, with a noncommitted accordion option to upsize the facility by an additional €150 million.

The debt instrument was provided by a syndicate of Citibank, Deutsche Bank, HSBC and J.P. Morgan.

The debt facility's margin is tied with the company's ESG risk rating score, meaning the margin will increase should NEPI Rockcastle's ESG score rise.

The U.K.-based property company will use the fund for general corporate purposes.

Sustainalytics assessed NEPI Rockcastle's ESG rating, while Deutsche Bank was the coordinator, facility agent and sustainability agent.