Cbus Property closes $930 million green loan transaction, bringing sustainable finance facilities to $1.585 billion

DECEMBER 2023

National award-winning integrated property investor and developer, Cbus Property, has successfully converted $930 million of debt facilities into green loans in line with its recently updated Sustainable Finance Framework.

The new green loans are supported by Cbus Property’s interest in seven commercial investment properties, namely 313 Spencer Street, Melbourne; 171 Collins Street, Melbourne; 720 Bourke Street, Melbourne; 1 William Street, Brisbane; 140 William Street, Perth; 83 Pirie Street, Adelaide; and 5 Martin Place, Sydney.

ANZ, CBA, NAB and ING were appointed as joint sustainability coordinators, while EY completed the independent sustainable finance assurance process for the updated Sustainable Finance Framework and the green loan transaction.

The transaction brings Cbus Property’s sustainable finance facilities to $1.585 billion, including current green loans for 111 and 121 Castlereagh Street, Sydney, and 311 Spencer Street, Melbourne.

Cbus Property’s Chief Executive Officer, Adrian Pozzo, said the transaction demonstrated the business’ ongoing commitment to embracing sustainable finance as a tool to support its sustainability objectives.

“We are proud to now have transacted more than $1.5 billion of sustainable finance facilities” he said.

“These facilities have been converted to green loans in accordance with our updated Sustainable Finance Framework, based on each of the seven assets achieving a 5.5 stars NABERS Energy rating.

“Cbus Property will continue to explore opportunities to underpin our existing portfolio, while delivering on our commitment to achieve our sustainability targets and develop and manage responsible investments for our members.”

Mr Pozzo said that the updated Sustainable Finance Framework criteria aligned with Cbus Property’s strategic sustainability targets, as outlined in its recently released 2023 Sustainability Report.

“Sustainable finance is another important layer to our comprehensive sustainability strategy and will help facilitate our goal to become a world leader in the sustainable development and management of commercial and residential property,” he said.

Cbus Property’s updated Sustainable Finance Framework outlines how the company intends to issue and manage sustainable finance instruments to support the delivery of its development pipeline and underpin its investment portfolio.

The framework continues to align with best-practice standards, including the voluntary guidelines issued by the International Capital Market Association (ICMA), Loan Markets Association (LMA), Asia-Pacific Loan Market Association (APLMA) and the Climate Bonds Initiative (CBI).

For more information or to review the updated Sustainable Finance Framework, please visit https://cbusproperty.com.au/sustainabilty/.