Redefine Properties Ltd - is a real estate investment trust (REIT) based in South Africa, focusing on developing and operating a portfolio of high-quality commercial property assets across retail, office, industrial, and specialized segments. Founded in 1999, Redefine is the second largest REIT listed on the Johannesburg Stock Exchange (JSE). Redefine’s shareholding is diversified, with entities with more than a 5 percent stake accounting for less than a 30 percent combined stake. The Company’s shares are traded on the JSE with a free float of 95 percent.

 On September 21, 2022, IFC invested ZAR750 million (about US$44.1 million) in Redefine’s maiden “use of proceeds” unsecured green bond issued under its ZAR30billion Domestic Medium Term Note program. The green bond included issuances of unsecured floating rate notes in multiple tenors, including a three-year, seven-year, and ten-year tenor. IFC participated in the issuance as an anchor bidder and received allocation in the seven- and ten-year notes. The bonds will be listed on the Johannesburg stock exchange. The green bond was oversubscribed and raised ZAR1.5 billion.

  The Project will focus on greening of properties in South Africa.

 Redefine has several policies demonstrating its commitment to sound corporate governance practices as reflected in its adherence with the King IV principles of corporate governance required of JSE listed Companies. The Company has a competent and diverse board of ten members, including three executive directors and seven non-executive directors. All non-executive directors are independent and bring diversity to board deliberations. The board is also subject to annual evaluations at the board level and board committee levels. The Company has (i) clear outlined policies committing to strong corporate governance and ESG; (ii) adequate control policies and processes that support transparency and accountability throughout the business; and (iii) financial and non-financial information adequately reported on the website and communicated appropriately to the key stakeholders. The integrated reporting process is well developed and aligned with market best practice.