ESR Group Limited (“ESR” or the “Company”, together with its subsidiaries as the “Group”; SEHK Stock Code: 1821), APAC’s largest real asset manager powered by the New Economy, announces that one of its core joint ventures (“Core Joint Venture”), has completed the refinancing of a JPY 59 billion (US$400 million) Trust Asset-Backed Loan (“Trust ABL”) in Japan.

SMBC Trust Bank Ltd has provided and structured the Trust ABL on an ESR-managed portfolio of five sustainable logistics properties in Japan, which have mostly achieved the highest-tier “Superior” grade in the Comprehensive Assessment System for Built Environment Efficiency (“CASBEE”).

The Core Joint Venture was formed in 2018 by ESR, with investors AXA IM Alts, a global leader in alternative investments acting on behalf of clients; and Mubadala Investment Company to invest in core stabilised logistics assets in Japan.

The facility meets and is provided on the basis of the “Green ABL Trust” Framework Rating which SMBC Trust Bank obtained from Japan Credit Rating Agency, Ltd (“JCR”) as the trustee borrower under the ABL structure.

Stuart Gibson, ESR Group Co-founder and Co-CEO, said: “In recognition of ESR’s commitment in driving ESG efforts across our assets, we are very pleased that our Core Joint Venture in Japan has closed this sustainable loan facility. We thank the SMBC Trust Bank for the strong support and confidence in our ESG credentials."

ESR is committed to leveraging its strengths and resources to constantly enhance its ESG performance to create long-term value for stakeholders. In May 2023, ESR unveiled its ESG 2030 Roadmap to accelerate positive impact for a sustainable future. The Group’s ESG 2030 Roadmap covers three key pillars under its ESG Framework: creating a Human Centric environment that is safe, supportive and inclusive for internal and external stakeholders; developing and maintaining a sustainable and efficient Property Portfolio; and delivering outstanding Corporate Performance for sustained and balanced growth with highest standards of governance. To learn more about the ESG initiatives and targets of ESR, please visit: https://www.esr.com/environmental-social-governance/