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

The bond has actually enabled the team to access lower-cost RMB capital and further expand its domestic funding networks and buyer base.

The Landmark Condo price

“The panda bond likewise incorporates our funding attempts with CLI’s sustainability efficiency, demonstrating our emphasis on responsible improvement. This most recent campaign to touch the significant residential financing industry in China helps mitigate foreign exchange inconstancies and belongs to our recurring prudent capital monitoring,” he adds.

Net profits from the issuance will be used to re-finance CLI’s occurring borrowings.

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

“The successful debut of our first panda bond shows the trust that institutional financiers have in CLI’s well established track record and long-term progress leads in China. It makes it possible for CLI to expand our capital resources and increase our economic compliance,” says Puah Tze Shyang, Chief Executive Officer of CLI (China).

The panda bond, that is the initial to be given by a Singapore company, has a three-year course and a fixed discount rate of 3.5% per annum.

Released covered by CLI’s RMB2 billion debt issuance programme, the panda bond is connected to CLI’s focused of reducing its energy usage level by a minimum of 6% for its Chinese real properties.

error: Content is protected !!