CapitaLand Investment raises RMB1 bil from first sustainability-linked panda bond
The panda bond, that is the initial to be provided by a Singapore firm, has a three-year tenor and a fixed discount price of 3.5% per year.
The bond has actually allowed the organization to gain access to lower-cost RMB resources and even more expand its local financing channels and buyer base.
Released held down CLI’s RMB2 billion financial obligation issuance program, the panda bond is associated to CLI’s intended of lowering its energy consumption level by a minimum of 6% for its Chinese real properties.
“The panda bond also integrates our financing attempts with CLI’s sustainability performance, showing our highlight accountable growth. This newest initiative to get the big residential capital market in China helps minimize foreign exchange fluctuations and belongs to our continuous sensible funding management,” he adds.
CapitaLand Investment (CLI) has boosted RMB1 billion ($187.1 million) from its inaugural sustainability-linked panda bond from institutional investors. The registration price was 1.65 times.
“The successful debut of our very first panda bond demonstrates the trust that institutional financiers possess in CLI’s recognized track record and long-term expansion prospects in China. It allows CLI to expand our funding sources and escalate our economic ability,” says Puah Tze Shyang, CEO of CLI (China).
Net earnings from the issuance will be applied to re-finance CLI’s existing credits.
