Lendlease has raised A$500m (€294m) in the largest green bond issued by an Australian non-financial firm.
The international property and investment group said the proceeds from the oversubscribed debut green bond will be used to support Lendlease’s A$113bn development pipeline and fund eligible projects in the company’s global portfolio.
Lendlease’s current portfolio of 22 major urbanisation projects includes Sydney’s Barangaroo, the UK’s International Quarter London, Singapore’s Paya Lebar Quarter and Chicago’s Southbank.
Tarun Gupta, Lendlease group CFO, said: “Sustainability is a key strategic priority for Lendlease. It is core to our belief that great places deliver positive environmental and social outcomes and are a differentiator and driver of value creation.
“The significant demand for this bond is incredibly exciting as it clearly demonstrates the strong interest the investment community has in supporting sustainably driven projects.
Gupta said the fundraise marks another sustainability benchmark for Lendlease which also includes Barangaroo being named Australia’s first carbon-neutral precinct, and Lendlease’s Australian Prime Property Fund Commercial the world’s most sustainable fund.
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