CapitaLand Investment raises RMB1 bil from first sustainability-linked panda bond
The panda bond, which is the 1st to be issued by a Singapore company, has a three-year tenor and a fixed promotion price of 3.5% per year.
The bond has actually made it possible for the team to connect to lower-cost RMB resources and more expand its domestic funding channels and real estate investor base.
Net earnings from the issuance will be utilized to refinance CLI’s remaining credits.
Issued covered by CLI’s RMB2 billion financial debt issuance program, the panda bond is connected to CLI’s intended of reducing its power consumption intensity by at the very least 6% for its Chinese real properties.
“The panda bond also integrates our financing efforts with CLI’s sustainability effectiveness, showing our focus on accountable improvement. This latest campaign to get the significant domestic capital market in China enables reduce foreign exchange changes and is part of our continuous sensible capital management,” he adds.
CapitaLand Investment (CLI) has increased RMB1 billion ($187.1 million) from its first sustainability-linked panda bond from institutional clients. The subscription rate was 1.65 times.
“The outstanding first appearance of our very first panda bond shows the reliance that institutional investors have in CLI’s established performance history and long-lasting progress prospects in China. It allows CLI to expand our funding sources and escalate our financial flexibility,” claims Puah Tze Shyang, Chief Executive Officer of CLI (China).
