ING Bank Romania rolls over NEPI Rockcastle's financing with EUR 100 mln "green" loan
ING Bank Romania recently prolonged for another three years the EUR 100 mln credit facility granted to the NEPI Rockcastle group, the largest owner of shopping centres in Central and Eastern Europe, Ziarul Financiar reported.
The standard loan, contracted in 2017, became "green" by adding ESG provisions (environmental, social and governance).
ING granted the loan as the sole lending bank. The funds will be used to fund NEPI Rockcastle Group's current and future projects.
"A green credit incorporates strict indicators to measure a company's performance according to ESG standards. It is periodically assessed by an independent global leader in sustainability consulting and corporate governance (Sustainalytics) to determine the cost of green credit. Thus, better performance of the company (above the indicators established in the contract) is rewarded with a reduction in the interest rate, while a reduced performance attracts, inversely proportionally, its increase," explained Florin Ilie, Deputy CEO and Head of Wholesale Banking within ING Bank Romania.
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