Redefine Green Bond

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 The Project is an investment to support Redefine Properties Ltd. (Redefine or the Company), a South African-based REIT operating in the commercial, retail, and industrial property sectors. IFC will support the Company with a subscription of up to 750 million South African rand (about US$44.1 million) of its inaugural green bond issuance. The investment will help the Company finance retrofits, renovations, and other building improvements in its portfolio to make them environmentally sustainable, improve resource efficiency, and adopt environmentally sound technologies, in line with Redefine’s commitment to ensure that its debt is sustainably refinanced, and all its buildings are net zero carbon, water, and / or waste by 2050 (the Project). IFC’s investment is classified as 100 percent climate-related finance as it will be used exclusively on buildings with at least a Green Star 4 category certification (according to the Green Building Council of South Africa), or equivalent.