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Mon 27th Nov 2017 - Ei Group becomes first UK pub company to participate in Lloyds Bank energy saving initiative with £50m loan
Ei Group becomes first UK pub company to participate in Lloyds Bank energy saving initiative with £50m loan: Ei Group, formerly Enterprise Inns, has become the first UK pub company to complete a loan under Lloyds Bank’s green lending initiative. The £50m loan has been taken out as Ei Group works with specialist consultants to identify upgrades across its estate to cut consumption and monitor and identify savings. Through the green lending initiative, Ei Group will receive an improvement in the interest rate of its green loan in exchange for driving sustainability initiatives within its pub estate and meeting specific pre-agreed key performance indicators. The targets are focused on commitments to ensure sustainability is considered on all investment into the estate, primarily relating to reducing the carbon footprint of managed pubs on conversion and also to encourage publicans to consider sustainability and energy saving measures as part of any investment projects in the leased and tenanted estate. Ei Group chief financial officer Neil Smith said: “We recognise our ongoing responsibilities to operate sustainable environmental procedures and to aim to improve in all key areas, particularly energy, water and waste, across the group’s evolving estate. We are pleased to have worked closely with Lloyds Bank on this transaction to provide financial flexibility and the financial incentive to further enhance our green credentials.” John Feeney, managing director and head of global corporates at Lloyds Bank, added: “The pub industry is of huge importance to local communities across the UK and this deal, supporting Ei Group’s energy saving initiatives, is another clear example of how Lloyds Bank is helping Britain prosper.” The Lloyds Bank green lending initiative is a £1bn commitment launched last year to incentivise and support corporate clients’ efforts to reduce CO2 emissions from their real estate assets.


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