AMP Capital has secured the largest green and sustainability loan in Australian history for a key asset in its Community Infrastructure Fund (CommIF) portfolio, as the fund comes under increasing threat of takeover from rivals.
In a statement, the fund manager said the Royal Adelaide Hospital – a public-private partnership between the South Australian government and AMP Capital-backed group Celsus – had secured a $2.2 billion loan involving a consortium of 18 banks.
AMP Capital said the transaction amounted to the largest sustainability loan in the healthcare sector globally, the largest project finance green and sustainability loan in Australia and the largest green loan for a public-private partnership nationally.
The funds were to be ring-fenced for purposes that offered strong social benefits and had been structured in accordance with the Asia Pacific Loan Market Association’s Green Loan Principles and Social Loan Principles, the fund manager said.
“AMP Capital is delighted to have played a part in delivering the world’s largest sustainability loan in the healthcare sector and furthering the ESG objectives of CommIF that we know resonate with client expectations,” AMP Capital CommIF portfolio manager Charles Savage said.
The news comes following the recent exit of AMP Capital’s head of energy, as well as a number of other senior departures in the fund manager’s infrastructure team to global infrastructure investor Plenary Group.
Plenary has emerged as a leading bidder for CommIF after making a takeover offer for the fund in March alongside rival groups Morrison & Co and Palisade Investment Partners, but AMP Capital has so far resisted taking any of the proposals to an investor vote.
The ifa Excellence Awards are back in 2021 and nominations are now open! This prestigious accolade recognises exceptional professionals within the financial advice industry, shining a light on the outstanding achievements from the nation's best and brightest. If this sounds like you or someone you know, then nominate today for the ifa Excellence Awards 2021!
Pendal Group has announced that it has completed the acquisition of a US-based fund manager. ...
AMP Capital’s independent board committee has rejected all three suitors lined up to take over management of its Community Infrastructure ...