CapitaLand Investment raises RMB1 bil from first sustainability-linked panda bond

CapitaLand Investment (CLI) has increased RMB1 billion ($187.1 million) from its first sustainability-linked panda bond from institutional financiers. The subscription rate was 1.65 times.

The panda bond, which is the 1st to be provided by a Singapore firm, has a three-year tenor and a fixed coupon price of 3.5% per year.

“The panda bond additionally combines our funding initiatives with CLI’s sustainability effectiveness, displaying our emphasize responsible growth. This newest initiative to touch the large domestic financing industry in China allows minimize foreign exchange changes and becomes part of our recurring prudent funding management,” he adds.

“The effective first appearance of our initial panda bond demonstrates the assurance that institutional investors have in CLI’s established track record and long-term growth leads in China. It enables CLI to expand our funds sources and raise our monetary compliance,” says Puah Tze Shyang, Chief Executive Officer of CLI (China).

Grand Dunman condo

Net profits from the issuance will be used to re-finance CLI’s occurring loans.

The bond has actually enabled the organization to gain access to lower-cost RMB funding and more increase its domestic financing networks and buyer base.

Provided covered by CLI’s RMB2 billion debt issuance programme, the panda bond is linked to CLI’s aim at of reducing its energy intake magnitude by at the very least 6% for its Chinese residences.

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