Nedbank CIB Investment Banking managing executive Brad Maxwell
Nedbank Corporate and Investment Banking (CIB) has concluded a R1-billion sustainability-linked revolving credit facility for international logistics company Imperial Logistics, which had approached Nedbank CIB to consider innovative funding alternatives that align with its focus on environmental, social and governance (ESG).
“Through active engagement with Imperial on its ESG strategy and debt financing requirements, we developed a R1-billion sustainability-linked debt instrument under which Imperial aims to deliver on mutually pre-agreed sustainability performance targets over the debt term,” says Nedbank CIB Investment Banking managing executive Brad Maxwell.
This is Imperial's first-ever sustainability-linked credit facility and was structured by Nedbank’s Leveraged and Diversified Finance Team in collaboration with the Sustainable Finance Solutions Team and Client Coverage.
Nedbank is increasingly using ESG indicators to identify opportunities it can progress in partnership with its clients. The Imperial transaction is an example of one such opportunity and has been implemented at a time when Imperial is focusing its business operations to become the logistics and market access gateway to Africa, Maxwell notes.
"The conclusion of the facility is further evidence of the bank’s ability to partner with its clients in respect of their sustainability journeys and is yet another demonstration of Nedbank’s expertise in delivering innovative solutions for its clients to assist in the unlocking of their sustainability objectives," he adds.
“As Imperial, we are proud to announce this milestone in our long-standing relationship with Nedbank. We thank Nedbank for being a valued partner to Imperial over the years and for supporting us in progressing our ESG journey,” says Imperial Group CEO Mohammed Akoojee.
He adds that the facility demonstrates Imperial's confidence in achieving its financial and ESG ambitions, and this transaction is testament that Nedbank continues to be a trusted adviser and key banking partner for Imperial.