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

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

“The panda bond also incorporates our financing initiatives with CLI’s sustainability efficiency, displaying our emphasis on accountable development. This most current campaign to tap the sizeable domestic capital industry in China allows mitigate foreign exchange fluctuations and belongs to our recurring sensible capital monitoring,” he includes.

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Net profits from the issuance will be utilized to refinance CLI’s existing loans.

The bond has made it possible for the team to get access to lower-cost RMB capital and more broaden its domestic funding channels and investor base.

Provided held down CLI’s RMB2 billion liability issuance programme, the panda bond is associated to CLI’s intended of reducing its energy intake intensity by at least 6% for its Chinese real estates.

“The effective launch of our initial panda bond shows the confidence that institutional financiers have in CLI’s established track record and long-term development prospects in China. It allows CLI to branch out our funding sources and raise our financial versatility,” claims Puah Tze Shyang, CEO of CLI (China).

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


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