Standard Bank arranges R5.5bn ESG loan for Grit
Grit Real Estate Income Group is raising R5.5bn in a sustainability-linked debt deal arranged by Standard Bank and other SA lenders. The term loan and revolving credit facility that is linked to Grit’s ESG, carbon-emissions reduction and gender-equality targets is the largest real-estate industry transaction to date in sub-Saharan Africa, excluding SA. The money will be used to replace R5bn of Grit’s debt, and secure funding for a Club Med redevelopment project in Senegal.