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

CapitaLand Investment (CLI) has built up RMB1 billion ($187.1 million) from its inaugural sustainability-linked panda bond from institutional clients. The subscription price was 1.65 times.

“The effective first appearance of our initial panda bond demonstrates the assurance that institutional investors possess in CLI’s established record and long-term progress prospects in China. It makes it possible for CLI to branch out our capital resources and raise our economic flexibility,” says Puah Tze Shyang, CEO of CLI (China).

The panda bond, which is the 1st to be given by a Singapore business, has a three-year course and a fixed promotion price of 3.5% per year.

Net earnings from the issuance will be applied to re-finance CLI’s existing credits.

Issued held down CLI’s RMB2 billion financial obligation issuance program, the panda bond is associated to CLI’s target of lowering its electricity consumption intensity by at the very least 6% for its Chinese real properties.

Residence at W condominium

“The panda bond additionally integrates our funding initiatives with CLI’s sustainability performance, illustrating our highlight liable growth. This newest initiative to get the large residential financing market in China allows minimize foreign exchange fluctuations and becomes part of our recurring sensible funding monitoring,” he includes.

The bond has made it possible for the team to connect to lower-cost RMB capital and further increase its domestic funding channels and buyer base.


error: Content is protected !!