CapitaLand Investment raises RMB1 bil from first sustainability-linked panda bond
The bond has allowed the group to get access to lower-cost RMB capital and further expand its local financing networks and real estate investor base.
“The successful launching of our very first panda bond demonstrates the trust that institutional investors possess in CLI’s established record and long-term expansion leads in China. It enables CLI to expand our funding resources and increase our economic compliance,” says Puah Tze Shyang, CEO of CLI (China).
The panda bond, that is the first to be issued by a Singapore company, has a three-year course and a fixed promotion rate of 3.5% per year.
Released held down CLI’s RMB2 billion liability issuance programme, the panda bond is connected to CLI’s intended of lowering its energy intake magnitude by a minimum of 6% for its Chinese properties.
Net earnings from the issuance will be used to refinance CLI’s occurring borrowings.
CapitaLand Investment (CLI) has already increased RMB1 billion ($187.1 million) from its debut sustainability-linked panda bond from institutional financiers. The membership price was 1.65 times.
“The panda bond likewise integrates our financing attempts with CLI’s sustainability efficiency, demonstrating our focus on accountable improvement. This most current effort to get the big residential capital market in China helps alleviate foreign exchange fluctuations and belongs to our recurring prudent capital management,” he includes.
