CTP secures €500m sustainability-linked loan

European logistics and industrial property developer CTP has secured a €500 million 5-year unsecured syndicated sustainability-linked loan facility at a fixed cost of 3.7%. 

Logistics - CTP

The loan, which was oversubscribed more than two times due to strong demand, will primarily refinance existing debt, resulting in significant interest savings and a lower overall cost of debt. 
SMBC and ING acted as Global and Sustainability Coordinators, with a syndicate of 13 European and Asian banks participating.
As of March 31, CTP’s logistics and industrial real estate portfolio consisted of 13.4 million m2 of gross leasable area across 10 countries.