ING has underwritten a £170 million green loan to support the redevelopment of 40 Holborn Viaduct.
The redevelopment, which is being led by Nuveen Real Estate, will convert the property from a traditional brown building into sustainable green workspace.
Jennie Norman, director at ING Real Estate, which acted as bookrunner and mandated lead arranger on the green loan, said: “Supporting our clients in delivering projects that advance ESG objectives is at the heart of our strategy. This financing demonstrates ING’s dedication to enabling developments that contribute to a more sustainable future.”
Adam Shelley, director DCM at Nuveen Real Estate, added: “The support from ING, as a valued lending partner and arranger across the Nuveen Real Estate platform, will enable CityHold Office Partnership to complete this innovatively designed and speculative office development project via a green loan. This £170m loan offers the borrower the flexibility to focus on developing and delivering a best-in-class, future-proof office asset.”
