Under the bonds’ terms and conditions, the REIT trustee, the issuer of the bonds, has set a sustainability target where the REIT should achieve at least a 24% reduction in absolute Scope 2 greenhouse gas (GHG) emissions from 2023 by the financial year ending on the target’s observation date.
The manager of Sabana Industrial REIT has launched and priced $100 million in sustainability-linked guaranteed bonds.
The bonds are due in 2029 and will bear an interest rate of 4.15% per annum, payable semi-annually in arrear. They will be issued at 100% of their principal amount and in denominations of $250,000.
