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

Provided covered by CLI’s RMB2 billion debt issuance programme, the panda bond is connected to CLI’s focused of decreasing its electricity intake level by at least 6% for its Chinese real estates.

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

“The successful launching of our first panda bond shows the assurance that institutional clients possess in CLI’s well established track record and lasting development prospects in China. It makes it possible for CLI to branch out our capital resources and increase our monetary versatility,” claims Puah Tze Shyang, CEO of CLI (China).

Net proceeds from the issuance will be used to refinance CLI’s remaining loans.

The panda bond, which is the first to be given by a Singapore company, has a three-year tenor and a fixed discount price of 3.5% per annum.

The bond has actually allowed the organization to get access to lower-cost RMB funding and even more broaden its domestic funding networks and investor base.

“The panda bond also incorporates our financing attempts with CLI’s sustainability performance, showing our emphasize accountable development. This latest campaign to get the big domestic capital industry in China assists minimize foreign exchange inconstancies and belongs to our ongoing sensible funding management,” he includes.

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