CapitaLand Investment raises RMB1 bil from first sustainability-linked panda bond
Issued under CLI’s RMB2 billion financial obligation issuance programme, the panda bond is connected to CLI’s target of decreasing its energy intake magnitude by a minimum of 6% for its Chinese real estates.
“The panda bond additionally combines our financing attempts with CLI’s sustainability effectiveness, illustrating our emphasize liable growth. This latest campaign to tap the large residential capital market in China allows mitigate foreign exchange inconstancies and belongs to our recurring prudent capital administration,” he includes.
CapitaLand Investment (CLI) has increased RMB1 billion ($187.1 million) from its debut sustainability-linked panda bond from institutional financiers. The registration price was 1.65 times.
Net profits from the issuance will most likely be used to refinance CLI’s remaining borrowings.
The panda bond, that is the first to be issued by a Singapore business, has a three-year tenor and a fixed discount rate of 3.5% per annum.
“The outstanding launch of our first panda bond shows the assurance that institutional clients possess in CLI’s established performance history and long-term development prospects in China. It allows CLI to expand our funds sources and escalate our financial ability,” says Puah Tze Shyang, CEO of CLI (China).
The bond has actually enabled the organization to connect to lower-cost RMB funding and more broaden its local funding channels and real estate investor base.
