Chinachem seals $8b syndicated loan for sustainability agenda

Hong Kong developer Chinachem has secured HK$8 billion in its debut syndicated loan, attracting commitments from 12 banks and seeing the deal more than 2.5 times oversubscribed.

The facility is the first syndicated loan in Asia to combine green, social and sustainability-linked components.

Chairman Peter Brien said that this triple-themed facility exemplifies the compay's vision of building sustainable legacies – where environmental stewardship, social responsibility and financial performance converge.

"It directly accelerates the company's 3050+ carbon reduction road map, which commits by 2030 to reduce carbon intensity by at least 51.8 percent from its 2020 baseline,” Brien said.

The facility was arranged and book-run by Bank of China (Hong Kong) (2388), DBS Bank Hong Kong, Hang Seng Bank (0011), and HSBC (0005).

STAFF REPORTER