Sustainable finance

Legal & General Investment Management has provided a three-year property loan, hinting at an increased appetite from the insurer to provide loan terms more typically associated with banks.

Berlin Hyp has issued its second ‘green’ Pfandbrief, representing the German bank’s third green bond issue since 2015.

Lloyds’ €600m syndicated financing of Unibail-Rodamco – complete with sustainability incentives – hints at the possibilities for a European ‘green’ property lending market.

Lloyds Bank Commercial Banking has arranged a €600 million syndicated financing for French REIT Unibail-Rodamco, priced against ‘green’ performance criteria.

The loan will fund development at the 38-acre Hamilton International Technology Park campus in the Scottish town of Hamilton in South Lanarkshire.

Lloyds Bank Commercial Banking has completed its first deal to be subsidised through the £1 billion ‘green’ commercial property lending fund which it launched in March this year.

Berlin Hyp, which last year launched the first ‘Green Pfandbrief’, has allocated more than €1 billion of loans backing sustainable properties to the covered bond.

The Green Lending Fund will be used to subsidise discounted margins offered to borrowers which plan to actively improve the sustainability of their commercial real estate.