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

CapitaLand Investment (CLI) has boosted RMB1 billion ($187.1 million) from its debut sustainability-linked panda bond from institutional clients. The membership price was 1.65 times.

“The successful launching of our initial panda bond shows the confidence that institutional investors have in CLI’s recognized record and long-term progress leads in China. It makes it possible for CLI to diversify our funding sources and raise our monetary versatility,” claims Puah Tze Shyang, CEO of CLI (China).

The bond has enabled the group to gain access to lower-cost RMB funding and more expand its local funding networks and buyer base.

Net earnings from the issuance will most likely be used to refinance CLI’s existing loans.

Provided covered by CLI’s RMB2 billion financial obligation issuance program, the panda bond is linked to CLI’s focused of lowering its energy usage intensity by at the very least 6% for its Chinese residences.

The panda bond, that is the 1st to be given by a Singapore company, has a three-year tenor and a fixed coupon price of 3.5% per annum.

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“The panda bond additionally incorporates our financing attempts with CLI’s sustainability efficiency, showing our emphasize accountable development. This newest campaign to tap the sizeable domestic capital industry in China helps alleviate foreign exchange changes and becomes part of our ongoing prudent funding management,” he adds.

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