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 launches online tool to spot future home-working related litigation for financial services firms

Multinational law firm Pinsent Masons has launched a new working-from home audit tool to help financial services organisations understand the hidden litigation and regulatory risks associated with staff increasingly working from home on a more permanent basis.

Pinsent Masons advises Seraphine Group PLC on its £150m main market IPO

Multinational law firm Pinsent Masons is advising Seraphine Group plc, an international digitally-led maternity and nursing wear, on its IPO and premium listing on the main market of the London Stock Exchange.

Pinsent Masons agrees MOU with Nepal International ADR Center

Multinational law firm Pinsent Masons has today signed a memorandum of understanding (MOU) with Nepal International ADR Center (NIAC), commencing an important collaborative relationship seeking to enhance NIAC’s international arbitration capabilities.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons unveils FY21 year end results

Multinational law firm Pinsent Masons has announced its FY21 year end results, reporting against last year’s metrics as the firm advances its strategy to become a purpose-led, professional services business with law at the core.

Pinsent Masons hires Sydney-based property and infrastructure partner

Multinational law firm Pinsent Masons has recruited property and infrastructure partner Deanne Ogilvie in its Sydney office.

Pinsent Masons to cut absolute global carbon emissions by at least 50%

Multinational law firm Pinsent Masons has unveiled targets to cut absolute carbon emissions by a minimum of 50% by 2030, as it continues to reduce its environmental impact and support clients in tackling the climate crisis.

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