JSE-listed real estate investment trust Redefine has raised R1 billion in its latest green bond issuance. The property owner informed investors that it will use the money raised to refinance qualifying buildings that at least have a four-star green building certification. Buildings will also need to align with the group’s “over-arching, long-term climate resilient framework”, it said. According to Redefine, this third green bond – auctioned earlier this month – was oversubscribed 1.
“South Africa’s debt capital market is experiencing a recovery in demand for high-quality commercial instruments with an ESG [environmental, social, governance] underpin.” Currently, Redefine holds 123 Green Star SA certifications across its portfolio, including the Alice Lane and 90 Grayston Drive office properties in Johannesburg.