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 investors. The registration price was 1.65 times.

Released covered by CLI’s RMB2 billion liability issuance program, the panda bond is associated to CLI’s target of reducing its electricity intake magnitude by at the very least 6% for its Chinese real estates.

“The panda bond likewise incorporates our financing campaigns with CLI’s sustainability efficiency, demonstrating our focus on accountable development. This latest effort to tap the large domestic capital industry in China helps mitigate foreign exchange inconstancies and becomes part of our recurring sensible capital monitoring,” he includes.

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The bond has enabled the team to get access to lower-cost RMB resources and even more broaden its domestic funding networks and real estate investor base.

“The outstanding debut of our first panda bond demonstrates the trust that institutional investors have in CLI’s well-known performance history and long-term development leads in China. It allows CLI to branch out our funding resources and grow our financial compliance,” says Puah Tze Shyang, Chief Executive Officer of CLI (China).

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

Net earnings from the issuance are going to be utilized to re-finance CLI’s existing credits.

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