Duke Realty Corporation
04/15/2021 | News release | Distributed by Public on 04/15/2021 08:11
Duke Realty’s ESG Strategy Gets Attention of S&P Global Market Intelligence
Duke Realty recently announced that it had amended and restated its $1.2 billion unsecured revolving credit facility that includes an incremental reduction in borrowing costs if certain sustainability linked metrics are achieved each year. This is part of Duke Realty's greater strategy and commitment to its ESG goals. This announcement received attention from S&P Global Market Intelligence as a growing trend toward 'environmental sensitivity in capital markets.'
Duke Realty has also announced the issuance of Green Bonds over the past two years - another move aimed at showcasing our commitment to developing sustainable projects. Recognizing Duke Realty as a leader in the industry, the publication published an exclusive article, REIT's 'green' revolving credit facility is part of a growing trend, on Duke Realty's revolving credit facility featuring an interview with Mark Denien, Duke Realty CFO.
'It's easy for us to make this commitment, and it's the right thing to do,' Denien said. 'It's as much around the publicity to make sure the world knows corporate responsibility means a lot to Duke Realty.'
Even without a formal mandate to pursue green lending, the 13 banks in the Duke facility - which also include The Bank of Nova Scotia, Regions Financial Corp. and Morgan Stanley - support the sustainable structure, Denien said.
'Just like I'm trying to show that we're a leader in sustainable, environmentally friendly buildings, in building them, they're trying to show that they're a leader in funding them,' he said. 'It's a great advertisement, for lack of a better word, showing that they're doing the right thing, and they're willing to give up that one basis point on the borrowing spread for that.'
Read more of Denien's comments in the article.