Host Hotels & Resorts secures a $2.5 Billion Sustainability-Linked Credit Facility Financing
Crédit Agricole CIB acted as Sole Sustainability Structuring Agent for Host Hotels & Resorts $2.5 Billion Sustainability-Linked Credit Facility Financing.
Host Hotels & Resorts, Inc., closed a $2.5 billion SLL, the first ever two-way pricing Sustainability-Linked Credit Facility (SLL) for a U.S. Lodging REIT, and the nation’s largest Lodging REIT. The transaction reflects Host Hotels & Resorts strong commitments to industry-leading ESG initiatives. The facility will be subject to an annual pricing adjustment based upon the company’s successful or failed compliance with specific Sustainability Performance Targets (SPTs) tied to two Key Performance Indicators (KPIs). Specific sustainability targets include, increasing the number of hotels in the portfolio with green building certifications to 38% by 2027 and increasing the percentage of electricity used at all consolidated properties that is generated by renewable resources to 38% by 2027 that contribute to Host’s Science Based Targets initiative verified carbon emissions goal and the resilience of their portfolio. “Our Bank is thrilled to have partnered with Host Hotels & Resorts on the first ever two-way pricing Sustainability-Linked Loan for a U.S. Lodging REIT. The KPIs showcase Host Hotels & Resorts leadership in expanding sustainable finance into the hotel sector and commitment to ESG initiatives.” Romina Reversi, Head of Sustainable Investment Banking Americas
The Bank acted as the sole Sustainability Structuring Agent on the transaction.
FindThe latest related news
- Green financeArticle12/07/2023
Crédit Agricole CIB participated in the Project Financing to develop the Solar Power Project Boa Sorte in Brazil
- Green financeArticle07/12/2022
The Republic of Uruguay obtains a Sustainability-Linked Bond
- Green financeArticle31/05/2022
How synergies lead to a positive social and environmental impact with New York Cares