CapitaLand Investment raises RMB1 bil from first sustainability-linked panda bond
The bond has actually allowed the team to connect to lower-cost RMB funding and more expand its domestic financing channels and investor base.
“The panda bond additionally integrates our funding campaigns with CLI’s sustainability performance, showing our emphasize accountable development. This newest campaign to get the large residential capital market in China enables alleviate foreign exchange changes and is part of our continuous prudent funding monitoring,” he adds.
Provided under CLI’s RMB2 billion financial obligation issuance programme, the panda bond is associated to CLI’s intended of lowering its electricity consumption intensity by at least 6% for its Chinese properties.
Net proceeds from the issuance are going to be applied to refinance CLI’s remaining borrowings.
“The outstanding first appearance of our very first panda bond demonstrates the confidence that institutional financiers have in CLI’s well established performance history and long-lasting development leads in China. It enables CLI to branch out our funds sources and escalate our financial versatility,” says Puah Tze Shyang, CEO of CLI (China).
CapitaLand Investment (CLI) has recently increased RMB1 billion ($187.1 million) from its inaugural sustainability-linked panda bond from institutional clients. The membership rate was 1.65 times.
The panda bond, which is the initial to be issued by a Singapore firm, has a three-year course and a fixed coupon rate of 3.5% per annum.
