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Derwent London Signs New Five-year GBP 450 Mln Revolving Credit Facility

Derwent London plc (DLN.L), a London-focused Real Estate Investment Trust or REIT, said Thursday that it has signed a new, five-year 450 million pounds revolving credit facility from HSBC UK, Barclays and NatWest.

The financing includes a 'green' tranche of 300 million pounds, making it the first revolving credit facility provided to a UK REIT that meets the LMA Green Loan Principles.

The green tranche is available to fund activities that satisfy the criteria set out in Derwent's newly established 'Green Finance Framework'.

Derwent London noted that it will be required to publish an independently verified report annually confirming that the green loans and the Framework continue to satisfy the requirements of the Green Loan Principles.

The company will also provide qualitative and quantitative environmental performance reporting of eligible projects in its annual Responsibility Report.

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