Pinsent Masons advises on the first Green Revolving Credit Facility issued in the London market

31 Oct 2019 | 10:00 am | 2 min. read

International law firm, Pinsent Masons, has advised HSBC, Barclays and Natwest on their new, five year, £450m revolving credit facility to Derwent London plc, the largest London-focused Real Estate Investment Trust (REIT).

The financing includes a ‘green’ tranche of £300 million, making it the first revolving credit facility provided to a UK REIT that meets the Loan Market Association Green Loan Principles (“Green Loan Principles”).

The green tranche is available to fund activities that satisfy the criteria set out in Derwent’s newly established ‘Green Finance Framework’ (the “Framework”). This describes the Group’s sustainability objectives and outlines how Derwent intends to fund projects that will deliver first class working, amenity and outdoor spaces, improved energy efficiency and reduced consumption of natural resources. The Framework has been externally reviewed to ensure compliance with the Green Loan Principles.

Derwent London will be required to publish an independently verified report annually confirming that the green loans and the Framework continue to satisfy the requirements of the Green Loan Principles. Derwent London will also provide qualitative and quantitative environmental performance reporting of eligible projects in its annual Responsibility Report.

Commenting on the transaction, Real Estate Finance Partner, William Oliver said: "It is fantastic to have worked with HSBC, Barclays and Natwest on such an important and market-leading transaction. We are sure that this will be seen as a ground breaking facility as green issues, the environment and sustainability become more and more important in business and society in general."

The Pinsent Masons team comprised lead partner, William OIiver and solicitor Fergus O’Doherty. Slaughter and May (Matthew Tobin and James Costi) acted for Derwent London.

Latest press releases

Show me all press releases

Pinsent Masons advises on purchase of Northern Ireland’s first major energy storage project

Multinational law firm Pinsent Masons has advised SUSI Partners on its purchase of a 50MW battery storage project from German renewables developer ABO Wind in Kells, Northern Ireland.

Pinsent Masons launches cyber security platform in response to surge of business cyber breaches

Multinational law firm Pinsent Masons has launched a cyber security platform and behavioural assessment service aimed at measuring and improving information security processes and employee behaviours, in the wake of a surge of business cyberattacks.

Pinsent Masons appoints technology transformation partner in London

Multinational law firm Pinsent Masons has recruited Ruby Khnom as TMT partner in London, where she will add significant strength to two of the firm’s key sectors- technology science & industry and financial services.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons bolsters Climate Change Mitigation and Sustainability team

Multinational law firm Pinsent Masons has named Michael Watson as its new Head of Climate Change Mitigation and Sustainability team, and appointed former OFGEM General Counsel, Euan McVicar, as Senior Climate Adviser.

Pinsent Masons wins Construction Law Firm of the Year at the Asian Legal Business Hong Kong Law Awards

Multinational law firm Pinsent Masons has been named Construction Law Firm of the Year at the Asian Legal Business Hong Kong Law Awards. This is the eleventh time in twelve years that the firm has been awarded the Construction Law Firm of the Year accolade.

Pinsent Masons hires prominent energy partner in Aberdeen

Multinational law firm Pinsent Masons has appointed oil and gas specialist, Bruce McLeod, as a partner based in its Aberdeen office.

For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on

+44 (0)20 7418 8199 or 

Location contacts