Latest news with #GreenFinanceFramework
Business Wire
2 days ago
- Business
- Business Wire
Primaris REIT Publishes Inaugural Green Finance Framework
TORONTO--(BUSINESS WIRE)--Primaris Real Estate Investment Trust ("Primaris") (TSX: announced today that it has published its inaugural Green Finance Framework (the 'Framework'), under which it may issue green bonds, green loans or other related financial instruments. The framework outlines eight eligible categories for investment: green buildings, energy efficiency, renewable energy, sustainable water and wastewater management, clean transportation, climate change adaptation, pollution prevention and control, and the circular economy. "As a Board member and Chair of the Compensation, Governance, and Nominating Committee, I'm pleased to support the introduction of our Green Finance Framework,' said Anne Fitzgerald, Trustee. 'It's a practical step that aligns with our broader sustainability strategy and helps ensure we're investing in projects that support environmental progress in a thoughtful, responsible way." Rags Davloor, Chief Financial Officer added, "Today marks a significant step forward in our commitment to sustainability. With the publication of our Green Finance Framework, we are aligning our environmental goals and targets with business strategy. Proceeds from green financing will support our focus on emissions reduction, building certifications, energy and water management, and tenant sustainability impacts, while creating long-term value for our stakeholders." The Framework has been reviewed by Moody's Ratings, which issued a Second Party Opinion confirming the Framework's alignment to the International Capital Market Association Green Bond Principles (2021) and the Loan Market Association Green Loan Principles (2025). Primaris will report annually on the allocation and impact of financed projects under the Framework on its website, and/or in its corporate reporting. The Framework and Second Party Opinion are available on the ESG section of the Primaris website. Advisor Scotiabank acted as sole sustainability structuring agent on the Framework. About Primaris Real Estate Investment Trust Primaris is Canada's only enclosed shopping centre focused REIT, with ownership interests in leading enclosed shopping centres located in growing Canadian markets. The current portfolio totals 15.0 million square feet, valued at approximately $4.9 billion at Primaris' share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape. Forward-Looking Statements Certain statements included in this news release constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable securities laws. The words "will", "expects", "plans", "estimates", "intends" and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Specific forward-looking statements made or implied in this news release include but are not limited to statements regarding: Primaris' intention and ability to complete an offering of green bonds, green loans or other related financial instruments, Primaris' expected investment in the eligible categories outlined herein and the expected sufficiency of proceeds from any such offering to fund these investments and to create long-term value for stakeholders. Forward-looking statements are provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements are not guarantees of future performance and are based on estimates and assumptions that are inherently subject to risks and uncertainties. Primaris cautions that although it is believed that the assumptions are reasonable in the circumstances, actual results, performance or achievements of Primaris may differ materially from the expectations set out in the forward-looking statements. Material risk factors and assumptions include those set out in Primaris' management's discussion and analysis for the three months and years ended December 31, 2024 and 2023, which is available on SEDAR+, and in Primaris' other materials filed with the Canadian securities regulatory authorities from time to time. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, Primaris undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise. For more information:
Yahoo
03-06-2025
- Business
- Yahoo
Vantage Data Centers Secures $5B in Incremental Green Loan Financings to Support Demand for North America Platform
$2.25B construction loan for Ohio campus and $2.75B corporate facility upsize underpin rapid growth fueled by cloud and AI requirements DENVER, June 03, 2025--(BUSINESS WIRE)--Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced it has secured $5 billion in incremental green loan financings to meet continued demand. The capital includes a $2.25 billion financing to fully fund construction of the company's New Albany, Ohio, campus and a $2.75 billion upsizing of an existing $3 billion 2024 borrowing base loan. These transactions combined give Vantage a total of $8 billion for the ongoing expansion of its North America platform. Innovative Rated Construction FinancingVantage has raised $2.25 billion in debt financing to fund the full development of its New Albany, Ohio, campus. Located just outside Columbus, this 70-acre campus will house three pre-leased hyperscale data centers with 192MW across 1.5 million square feet. The first facility is slated to be operational by December 2025. Led by Mitsubishi UFJ Financial Group, Inc. (MUFG) and Societe Generale, the transaction represents one of the first construction loans in the data center industry to have achieved private investment-grade ratings by two leading rating agencies. Increased Corporate FacilitySeparately, Vantage upsized its existing $3 billion green loan corporate credit facility by an additional $2.75 billion, increasing the total to $5.75 billion. The financing will support the development of data centers and land acquisitions for future growth in North America. The transaction continues Vantage's long-standing relationships with top-tier financial institutions. The expanded facility was arranged by a bank syndicate led by structuring bank Wells Fargo Securities, LLC along with joint bookrunners TD Securities, Truist Securities, Inc. and Scotiabank. "As the need for digital infrastructure continues to accelerate, Vantage remains focused on raising capital to support the rapid expansion of our North America platform," said Rich Cosgray, senior vice president, global capital markets at Vantage. "These financings demonstrate our ability to secure sustainable and innovative funding vehicles to meet market demand and serve our customers with scalable solutions that ultimately increase our speed to market." Both financing deals were secured under Vantage's Green Finance Framework, reinforcing the company's commitment to the sustainable development, delivery and operation of its data centers. This strong financial backing positions Vantage to meet customer demand at scale across multiple markets in support of the digital economy. White & Case served as legal advisor to Vantage on both transactions. About Vantage Data CentersVantage Data Centers powers, cools, protects and connects the technology of the world's well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands. For more information, visit View source version on Contacts Press Contacts Mark FreemanVantage Data Centersmfreeman@ +1-202-680-4243 Robin BectelREQ for Vantage Data Centersvdc@ +1-202-936-6335
Business Wire
03-06-2025
- Business
- Business Wire
Vantage Data Centers Secures $5B in Incremental Green Loan Financings to Support Demand for North America Platform
DENVER--(BUSINESS WIRE)--Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced it has secured $5 billion in incremental green loan financings to meet continued demand. The capital includes a $2.25 billion financing to fully fund construction of the company's New Albany, Ohio, campus and a $2.75 billion upsizing of an existing $3 billion 2024 borrowing base loan. These transactions combined give Vantage a total of $8 billion for the ongoing expansion of its North America platform. Innovative Rated Construction Financing Vantage has raised $2.25 billion in debt financing to fund the full development of its New Albany, Ohio, campus. Located just outside Columbus, this 70-acre campus will house three pre-leased hyperscale data centers with 192MW across 1.5 million square feet. The first facility is slated to be operational by December 2025. Led by Mitsubishi UFJ Financial Group, Inc. (MUFG) and Societe Generale, the transaction represents one of the first construction loans in the data center industry to have achieved private investment-grade ratings by two leading rating agencies. Increased Corporate Facility Separately, Vantage upsized its existing $3 billion green loan corporate credit facility by an additional $2.75 billion, increasing the total to $5.75 billion. The financing will support the development of data centers and land acquisitions for future growth in North America. The transaction continues Vantage's long-standing relationships with top-tier financial institutions. The expanded facility was arranged by a bank syndicate led by structuring bank Wells Fargo Securities, LLC along with joint bookrunners TD Securities, Truist Securities, Inc. and Scotiabank. 'As the need for digital infrastructure continues to accelerate, Vantage remains focused on raising capital to support the rapid expansion of our North America platform,' said Rich Cosgray, senior vice president, global capital markets at Vantage. 'These financings demonstrate our ability to secure sustainable and innovative funding vehicles to meet market demand and serve our customers with scalable solutions that ultimately increase our speed to market.' Both financing deals were secured under Vantage's Green Finance Framework, reinforcing the company's commitment to the sustainable development, delivery and operation of its data centers. This strong financial backing positions Vantage to meet customer demand at scale across multiple markets in support of the digital economy. White & Case served as legal advisor to Vantage on both transactions. About Vantage Data Centers Vantage Data Centers powers, cools, protects and connects the technology of the world's well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands. For more information, visit
Ya Biladi
28-05-2025
- Business
- Ya Biladi
OCP and SACE sign €365M green financing deal to boost sustainability in Morocco
The OCP Group and SACE, an Italian insurance and finance group controlled by Italy's Ministry of Economy and Finance, announced on Tuesday the signing of a green financing agreement worth €365 million. This is the first financing secured under OCP's Green Finance Framework and marks the first transaction guaranteed in Morocco as part of SACE's Push Strategy. According to a joint statement, this partnership reinforces OCP's commitment to sustainability and innovation in plant and soil nutrition solutions. The financing, structured as an untied export credit, is backed by comprehensive insurance coverage under SACE's Push Strategy and was arranged by BNP Paribas and Crédit Agricole Corporate and Investment Bank (CACIB). In line with OCP's Green Finance Framework, the funds will support the company's $13 billion green investment program for 2023–2027. This includes a goal to rely 100% on non-conventional water sources by early 2025, reaching a desalination capacity of 560 million m³ per year by 2027, ensuring complete water autonomy. The program also aims to achieve 100% clean energy use by 2027, complete carbon neutrality by 2040 (with Scopes 1 and 2 by 2030, and Scope 3 by 2040), and a significant increase in green fertilizer production to support sustainable agriculture and global food security. Beyond financing, the agreement also opens new business opportunities for OCP Group and Italian suppliers through business matchmaking initiatives organized by SACE. SACE's Push Strategy is designed to support Italian export opportunities in strategic sectors of the Mattei Plan for Africa, such as green technologies, as well as mechanical and hydraulic components. Armando Barucco, Italy's ambassador to Morocco, welcomed the initiative as a boost to economic collaboration, unlocking new opportunities across multiple sectors and consolidating a solid foundation for trade and bilateral investments. Michal Ron, SACE's international director, described the Push Strategy as a key tool for creating new export opportunities, particularly for SMEs. For his part, Karim Lotfi Senhadji, OCP's Chief Financial Officer, emphasized the importance of the partnership in accelerating the transition to 100% clean energy and 100% non-conventional water, with the aim of securing OCP's leadership in sustainable plant nutrition solutions.
Morocco World
27-05-2025
- Business
- Morocco World
OCP, Italy's Financial Group SACE Announce €365 Million Green Financing Agreement
Rabat – OCP Group has announced the signing of a €365 million agreement with the Italian export credit agency and finance group, SACE. In a statement today, the Moroccan fertilizer giant said that the agreement is the first of its kind under the group's Green Finance Framework and the first guaranteed by SACE Push Strategy in Morocco. 'This strategic partnership reinforces OCP's commitment to sustainability and innovation in plant nutrition solutions,' the statement added, noting that the deal marks a 'historic dual first.' The OCP facility will be supported by an insurance coverage under SACE's Push Strategy and arranged by BNP Paribas and Credit Agricole Corporate and Investment Bank. The push strategy provides Italian companies with access to international markets, offering them financing to foreign counterparts with the potential to purchase goods and services from Italy. The agreement is in line with OCP's $13 billion Green Investment program covering the 2023-2027 period. The agreement will contribute to financing the program, which seeks to enable a complete non-conventional water use since early 2025, including a desalination capacity of 560 million cubic meters per year by 2027. It also seeks to ensure complete water autonomy as well as 100% clean energy by 2027. The OCP mega program further aspires to ensure full carbon neutrality by 2040 and increased production of green fertilizers. Armando Bucacco, Italian ambassador to Morocco, highlighted the importance of the promising agreement. The deal represents a 'significant step in strengthening ties between Italy's industrial excellence and one of Morocco's leading economic players,' Bucacco noted. He added, 'This strategic partnership not only fosters across multiple sectors, reinforcing a strong foundation for bilateral trade and investment.' Karim Lotfi Senhadji, Chief Financial Officer at OCP, echoed the same remarks. For him, the agreement with SACEE reflects OCP's commitment to sustainability and innovation. 'By securing this facility, we are accelerating our transition towards 100% clean energy and 100% non-conventional water, reinforcing our leadership in sustainable plant nutrition solutions,' he explained. SACE's Chief International Officer, Michal Ron, also expressed satisfaction with the deal. This initiative demonstrates the group's commitment to promote 'made in Italy' and supporting Italian companies in key sectors like infrastructure, renewable energy, and industrial machinery, he argued. 'It also reinforces our commercial ties with Africa in alignment with the Mattei Plan,' he added. For his part, head of CIB Africa at BNP Paribas and CEO of BNP Paribas Regional office in Casablanca Finance City, Abdelmadjid Fassi Fihri, said the landmark transaction with OCP has been a 'great opportunity to leverage the expertise of our Corporate and institutional Banking teams in Casablanca, Milan, and Paris in order to deliver state-of-the-art cross-border structured financing supporting the ambitious sustainable trajectory of the kingdom' Andre Gazal, Global Head of ECA & Multilateral Financing Solutions at Crédit Agricole CIB, echoed similar remarks. Through this agreement, he concluded, 'OCP entrusted us to structure this financing which will serve their strategic capex plans, underlying the strong ties built between OCP and Crédit Agricole CIB over the years.' Tags: Morocco's OCP GroupOCP Africa
