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

The bond has made it possible for the team to gain access to lower-cost RMB funding and more increase its domestic funding channels and real estate investor base.

“The effective launching of our very first panda bond shows the reliance that institutional clients have in CLI’s established performance history and lasting progress prospects in China. It enables CLI to diversify our funding resources and raise our financial flexibility,” states Puah Tze Shyang, CEO of CLI (China).

“The panda bond likewise combines our financing attempts with CLI’s sustainability efficiency, demonstrating our emphasize liable growth. This most recent campaign to touch the big domestic financing industry in China helps alleviate foreign exchange inconstancies and becomes part of our recurring prudent capital management,” he includes.

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

Lakegarden Residences Yuan Ching Road

Released under CLI’s RMB2 billion debt issuance program, the panda bond is linked to CLI’s intended of decreasing its energy intake magnitude by a minimum of 6% for its Chinese real estates.

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

Net profits from the issuance will most likely be utilized to re-finance CLI’s occurring loans.