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

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

“The successful first appearance of our initial panda bond demonstrates the trust that institutional financiers possess in CLI’s well-known record and long-lasting development prospects in China. It allows CLI to expand our funding sources and escalate our economic ability,” states Puah Tze Shyang, CEO of CLI (China).

Sky Eden floor plan

“The panda bond additionally incorporates our funding efforts with CLI’s sustainability efficiency, demonstrating our emphasize responsible growth. This most current initiative to touch the large residential capital market in China allows mitigate foreign exchange changes and becomes part of our ongoing sensible funding monitoring,” he includes.

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

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

Provided held down CLI’s RMB2 billion financial debt issuance program, the panda bond is associated to CLI’s target of lowering its power usage intensity by a minimum of 6% for its Chinese residences.

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

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