Dennis de Vreede, CFO of Wereldhave: “Sustainability has been integrated in Wereldhave’s operations for years. With the energy transition ahead of us and our commitment to the Science-Based Targets initiative recently, this Green Financing Framework now allows us to integrate our financial structure with sustainability. The newly established Green Revolving Financing Facility immediately reflects how we can improve our financial structure within a sustainable context”.
Wereldhave Green Financing Framework
Sustainability is a key part of our value proposition to both tenants and visitors and to achieve long-term value creation in our business model. In order to anchor sustainability into its financing activities, Wereldhave developed a Green Financing Framework. It aims to attract funding that will be allocated to sustainable and energy efficient real estate assets which contribute to social and sustainable engagement in local communities. Under this framework, Wereldhave can issue a variety of green finance instruments, including green bonds, green private placements, green (syndicated) loan facilities and other green debt instruments.
The Wereldhave Green Finance Framework is aligned with Wereldhave’s new Corporate Social Responsibility (CSR) programme for 2030, A Better Tomorrow.
ISS ESG, a leading rating agency in the field of sustainable investments, has certified the Wereldhave Green Financing Framework. The framework and the second party opinion are available here.
ABN AMRO Bank N.V. acted as advisor in the development of the framework.
Green Revolving Credit Facility
Wereldhave has agreed with ABN AMRO Bank N.V. a Green Revolving Credit Facility of €100 million. This new facility, with a term of two years, will increase the financial headroom of Wereldhave and contributes to the financing activities through 2021 accordingly.
The Green Revolving Credit Facility will be used to finance Wereldhave’s LifeCentral Strategy to transform identified shopping centers into sustainable and energy efficient Full Service Centers as defined in the Wereldhave Green Finance Framework.
“We are very happy with the closing of this new Green RCF for Wereldhave as inaugural trade under the Green Finance Framework. It gave us the opportunity to combine two of our core values by supporting the company in its strategic transition process as well as contributing to their sustainability efforts”, says Axel Sibmacher van Nooten, Head of Infrastructure Coverage at ABN AMRO.