By Mary-Katherine Stinson
Lexington, Ky., March 20 – Singapore’s CapitaLand Investment Ltd. announced it sold RMB 1 billion of 3˝% sustainability-linked panda bonds (Chengxin: AAA) with a three-year tenor under its RMB 2 billion debt issuance program, according to an announcement.
This is the first sustainability-linked panda bond issued by a Singapore company.
The bond was 1.65 times oversubscribed.
The sustainability-linked panda bond is tied to CapitaLand Investment’s target of lowering its energy consumption intensity by at least 6% at its Chinese properties in 2024 as compared with 2019. The company’s targets set out in its 2030 sustainability master plan include achieving net zero carbon emissions for scope 1 and scope 2 by 2050 and reducing scope 1 and 2 carbon emissions by 46% by 2030 as compared with 2019.
China International Capital Corp. is the lead underwriter and bookrunner while HSBC Bank (China) is the joint lead underwriter and joint bookrunner for this transaction.
Proceeds will be used for refinancing existing borrowings.
Based in Singapore, CapitaLand Investment is a global real estate investment manager.
| Issuer: | CapitaLand Investment Ltd.
|
| Amount: | RMB 1 billion
|
| Issue: | Sustainability-linked panda bonds
|
| Tenor: | Three years
|
| Joint bookrunners: | China International Capital Corp. and HSBC Bank (China)
|
| Coupon: | 3˝%
|
| Announcement date: | March 20
|
| Rating: | Chengxin: AAA
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
