HSBC India Offers Rs 300 Crore Green Loan to Neovantage for Sustainable Growth
HSBC India provides green loan to Neovantage Innovation Parks, a life sciences real estate company in Hyderabad, to refinance existing debt.
Green LoanNeovantage Innovation ParksHsbc IndiaLife Sciences Real EstateSustainable DevelopmentReal Estate MumbaiSep 17, 2024
Neovantage Innovation Parks, a joint venture between Ivanhoe Cambridge and Lighthouse Canton, owns and operates life sciences-focused real estate. The company is home to leading pharma and life sciences Research and Development (R&D) companies.
The green loan facility, which is HSBC's first in the life sciences real estate sector in India, will be used to refinance existing debt. This move is aligned with Neovantage Innovation Parks' ongoing initiatives to maintain an environmentally responsible and operationally efficient real estate portfolio.
Neovantage Innovation Parks' portfolio consists of 8 world-class, Grade 'A' facilities with premier multi-national and large Indian companies as tenants. The company's dedication to sustainability is reflected in its development, which is designed to create sustainable, thriving business ecosystems.
The funding supports Neovantage Innovation Parks' financial strategy and aligns with its vision to create sustainable, thriving business ecosystems. This milestone underscores HSBC's commitment to supporting clients in achieving their sustainability goals.
HSBC has previously provided green loan facilities to several other key real estate players in India. This first green loan from HSBC in the life sciences real estate sector in India marks the next step in the country's commitment to sustainable development.
It also demonstrates the growing alignment between financial strategies and global environmental objectives. As companies increasingly prioritize sustainability, green loans are becoming an essential tool for achieving these goals.
HSBC India is a leading international bank that provides a wide range of financial services to individuals, corporates, and institutions. The bank is committed to supporting sustainable growth and development in India.
Ivanhoe Cambridge is a real estate group of CDPQ, a global investment institution. Lighthouse Canton is a global investment institution that manages Neovantage Innovation Parks.
Information
Green loans are specifically used for projects or activities that promote sustainability and reduce environmental impact. These loans are becoming increasingly popular as companies prioritize sustainability and investors seek environmentally responsible investments.
A This green loan marks HSBC's first in the life sciences real estate sector in India and demonstrates the growing alignment between financial strategies and global environmental objectives.
Frequently Asked Questions
What is a green loan?
A green loan is a type of loan specifically used for projects or activities that promote sustainability and reduce environmental impact.
Who has provided the green loan to Neovantage Innovation Parks?
HSBC India has provided the green loan to Neovantage Innovation Parks.
What is the amount of the green loan provided to Neovantage Innovation Parks?
The amount of the green loan provided to Neovantage Innovation Parks is Rs 300 crore.
What will the green loan be used for?
The green loan will be used to refinance existing debt.
What is the significance of this green loan?
This green loan marks HSBC's first in the life sciences real estate sector in India and demonstrates the growing alignment between financial strategies and global environmental objectives.
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