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

The bond has allowed the team to connect to lower-cost RMB capital and more broaden its domestic funding channels and buyer base.

Net earnings from the issuance will be utilized to re-finance CLI’s remaining loans.

“The panda bond likewise integrates our financing efforts with CLI’s sustainability efficiency, demonstrating our focus on accountable development. This most current effort to get the big domestic capital market in China helps reduce foreign exchange changes and becomes part of our continuous prudent capital monitoring,” he adds.

Lentor Mansion showflat location

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

The panda bond, that is the first to be provided by a Singapore firm, has a three-year tenor and a fixed promotion rate of 3.5% per annum.

“The outstanding launch of our very first panda bond shows the assurance that institutional clients possess in CLI’s recognized performance history and lasting expansion prospects in China. It makes it possible for CLI to diversify our capital sources and raise our financial flexibility,” says Puah Tze Shyang, CEO of CLI (China).

Issued under CLI’s RMB2 billion liability issuance programme, the panda bond is associated to CLI’s intended of lowering its energy consumption magnitude by a minimum of 6% for its Chinese properties.

error: Content is protected !!