Lloyds Bank has issued the first loan from its £1bn green lending scheme.
Fund manager Trinova secured £17m of debt from the bank for its £30m acquisition of Vulcan House in Sheffield, South Yorkshire. The 120,000 sq ft building is fully let to the government.
The four-year loan reflects a 56.7% LTV.
Lloyds’ green initiative was started to motivate landlords to cut their carbon footprint by issuing loans that are up to 20bps cheaper if developers fulfil