ISPT Pty Ltd’s A$495 Million Sustainability Linked Loan

Herbert Smith Freehills has advised ISPT Pty Ltd on the deal.

ISPT Pty Ltd restructured A$495 million in bank facilities to sustainability linked loan facilities for the ISPT Retail Australia Property Trust (IRAPT).

The restructure of the IRAPT facility agreement involved two joint sustainability coordinators (CBA and Westpac) and linked four of IRAPT’s environmental, social and governance (ESG) targets – emissions, water usage, labour certification and waste – to the interest rate margin payable on its debt.

The Herbert Smith Freehills team was led by partner Andrew Booth (Picture) and solicitor Andrew Julian.

Involved fees earner: Andrew Booth – Herbert Smith Freehills; Andrew Julian – Herbert Smith Freehills;

Law Firms: Herbert Smith Freehills;

Clients: ISPT Pty Ltd;

Author: Sonia Carcano