October 2019
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PROPERTY
Green financing
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PROPERTY
Swire Properties has secured its first sustainability-linked loan facility. In July, the company reached an agreement with Crédit Agricole Corporate and Investment Bank (“Crédit Agricole CIB”) to convert an existing five-year revolving credit facility of HK$500 million, dated August 2017, into a sustainability-linked loan, with the interest rate being indexed against the company’s ESG performance. Within this loan structure, Crédit Agricole CIB will grant a reduction in the interest rate each year, based on the company retaining its listing on the Dow Jones Sustainability World Index (“DJSI World”), and its achievement of an annual reduction in energy use target in its Hong Kong portfolio. Swire Properties has been listed by DJSI World since 2017 and is the only property developer and multinational corporation from Hong Kong and Mainland China to be included in the index, consolidating its position as a sustainability leader in the global real estate industry. The loan is Swire Properties’ second sustainable financing initiative, following its issuance of a US$500 million green bond in 2018.
New residential developments in SE Asia
New residential developments in SE Asia
Modernising real estate
Modernising real estate
Green hospitality
Green hospitality
Sale of interest in 625 King’s Road
Sale of interest in 625 King’s Road
New extension at Citygate
New extension at Citygate
The Opposite House unveiled UNION
The Opposite House unveiled UNION
Green financing
Green financing
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Swire News September 2019 issue
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