Singapore/Tokyo, 5 March 2024: Mizuho Bank, Ltd. (hereafter “Mizuho Bank”) announces today that it has concluded ESR Group’s first ever sustainability-linked loan that is structured as a cross-border syndicated loan, or what is also known as a Ninja loan.
Mizuho Bank acted as the sole mandated lead arranger and bookrunner, as well as sole sustainability coordinator.
The JPY22 billion facility consists of five and seven year tranches and includes a tiered mechanism of interest reduction designed to incentivise ESR to achieve sustainability targets. By providing incentives for the borrower to achieve these goals, this form of financing aims to promote sustainable economic activities and growth.
ESR is APAC’s largest real asset manager and the third largest listed real estate investment manager globally. With approximately US$150 billion in total assets under management (AUM), the Group has been leading the way forward in the transition to a more inclusive, low carbon and climate resilient future. ESR has demonstrated its ESG credentials through its proven track record of sustainable properties and operations as well as best corporate practices, all underscored by its ESG 2030 Roadmap.
At Mizuho Bank, we continue to further incorporate sustainability initiatives into our business strategy. We are drawing on our expertise as a financial service group to proactively provide a wide range of solutions, including advisory and capital financing support, to businesses that are contributing to the shift to a low-carbon society.
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Editor’s note: Corporate syndicated loans extended from Japanese banks to non-Japanese or offshore entities and sold mainly to Japanese investors, like in this case, are often called "Ninja loans" or "Samurai loans" in Japan. Mizuho Bank has trademarked the term "Ninja loan" in the United States and other jurisdictions.
Press contact:
Calvin Hui
Vice President, Corporate Communications
Mizuho Singapore
Corporate_Communications@mizuho-cb.com
About Mizuho Financial Group
Mizuho Financial Group, Inc. is one of the largest, full-service financial institutions in the world, with approximately 60,000 employees, 150 years of banking experience, and assets of approximately JPY 200 trillion on a consolidated basis. We have a global network encompassing financial and business centers in some 35 countries/regions around the world, in addition to a nationwide network and one of the largest customer bases in Japan.
Rooted in some of the largest, most influential financial institutions in Japanese history, Mizuho has been an important part of our clients’ growth for more than a century. Our financial strength, expertise, client focused values, and unwavering support makes Mizuho a trusted banking partner.
As a full service financial group, we combine extensive industry and local market expertise, a broad geographic presence, and a comprehensive range of financing and advisory solutions. Our services include corporate, syndicated and project finance, and cover loan and debt capital markets, that address both industry and client needs.