Cementing its place as a global pioneer in green financing, Link’s recent green convertible bond issuance marked a first for the real estate sector worldwide and Hong Kong issuers. Raising HK$4 billion at 1.6% per annum due 2024, the lowest coupon rate achieved by an Asian REIT over the past five years, the green convertible bonds have received an “A” rating from S&P. The proceeds will be used to refinance or fund Link’s existing and future eligible green projects. The bonds were allocated to a balanced mix of Asian and European investors.
CEO George Hongchoy said, “The convertible bond issuance will help replenish our maturing facilities, diversify our funding sources and expand our investor base. We are delighted to work with like-minded investors to promote and improve corporate sustainability performance as well as build thriving, low-carbon communities".