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Green finance is part of our SD 2030 Strategy and reflects our commitment to integrating sustainability considerations into our financing mechanisms.
We launched our first green bond in January 2018, raising US$500 million at a coupon rate of 3.5 %, due 2028. The 10-year green bond was issued under our US$4 billion Medium Term Note Programme and was rated A2 by Moody’s Investors Service and A by Fitch Ratings.
Part of the proceeds will be used to finance our newest Grade-A office development, One Taikoo Place, a core component of our HK$15 billion Taikoo Place redevelopment project.
Swire Properties’ 10-year green bond is the first in Hong Kong to obtain Pre-issuance Stage Certification under the newly launched Green Finance Certification Scheme by the Hong Kong Quality Assurance Agency.
Green Bond Framework
For the purpose of issuing green bond(s), we have developed a Green Bond Framework which addresses the four key pillars of the Green Bond Principles:
The net proceeds of the green bond(s) will be used to fund or refinance our new or existing green projects that relate to green building development, energy efficiency, renewable energy, sustainable water and waste water management, or climate change adaptation
Our Green Bond Framework was also reviewed by Sustainalytics, an independent environmental, social and governance research, ratings and analysis firm. Sustainalytics has also provided a second-party opinion on our framework.
As part of our ongoing commitment to furthering the development of green financing in Hong Kong, Green Finance Framework is created to extend the scope of our Green Bond Framework to cover green loans.
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