GLP J-Reit issues record 20-year sustainability bond
First ultra-long sustainable offering in Japanese real estate trust market
16 Mar 2021 | The Asset

Singapore-based GLP’s Japan Real Estate Investment Trust (GLP J-Reit) has raised 5 billion yen (US$46 million) with the issuance of 20-year sustainability bonds, the first ultra-long sustainability bonds in the Japan Reit market.

As part of its environmental sustainability initiatives, GLP J-Reit has provided green finance and issued green bonds on three occasions since December 2018 with a total environmental, social and governance (ESG) bond issuance of 31.6 billion yen (US$290 million), making it the top Japan Reit in terms of ESG bonds outstanding.

The Reit has obtained a SU1 (F) rating, the highest possible rating under the Japan Credit Rating Agency’s Sustainability Finance Framework Evaluation, and focuses on sustainability finance to raise funds for projects that contribute to solving social issues and preserving the environment.

Globally, GLP and its strategic partners have raised more than US$1 billion in sustainability-linked loans and ESG bonds.