Another loan for ESR
With the completion of the ARA Asset Management (ARA) acquisition, ESR Cayman Limited (ESR) has enlarged its portfolio as a major APAC real asset manager, including logistics real estate in Asian countries. The integration with ARA, including its subsidiary Logos, also enables the group to expand the range of its instruments.
Now, ESR has secured a sustainability-linked loan of JPY 28 billion (approximately USD 243 million) with an option to upsize it to JPY 35 billion (approximately USD 303 million).
The group obtained the loan from a consortium of Asian banks, including the group’s strategic investor Sumitomo Mitsui Banking Corporation (SMBC), Mizuho Bank and E. Sun Commercial Bank. This loan complements ESR and ARA’s respective recent USD 1 billion sustainability-linked loans. (sh)