News
Morrison & Co has refinanced debt linked to New Zealand schools-focused public private partnership with a use-of-proceeds sustainability loan. Deal sources say the facility is New Zealand’s first use-of-proceeds loan to be recognised and accredited for its environmental and social credentials.
Australasian deal activity slowed in the week ending 4 March. Securitisation issuance continued at pace, however, with deals from Firstmac, Plenti Finance and Resimac.
Reliance Rail says the addition of sustainability-linked features to its green loan will help it achieve environmental goals beyond its existing asset pool, such as energy consumption targets and emissions reduction. Any margin savings will be directed to sustainability improvements rather than reducing funding costs, which the borrowers says is a distinguishing feature of its facility.
