2021-02-08
[News from HKGBC Patron Member - NWD] NWD Becomes World's First Real Estate Developer to Issue a USD SLB
New World Development (NWD) is proud to share that they have become the world’s first real estate developer to issue a USD Sustainability-Linked Bond (SLB). To drive ESG integration and further decarbonisation, NWD targets to achieve 100% renewable energy in Greater Bay Area (GBA) rental properties by 2026.
Supported by NWD’s investors and stakeholders, the 10-year USD 200 million bond saw a sextuple oversubscription with over 80% participation from international ESG investors, allowing NWD to achieve the lowest yield for a public USD-denominated bond offering to-date.
With the Group’s CSV vision, NWD remains forward looking by consistently strengthening decarbonisation efforts across their core property business within the region. Since 2018, NWD has raised nearly HKD 12 billion through sustainable financing to support the development of green buildings and other sustainability initiatives within the GBA. Under the New World Sustainability Vision 2030, NWD pledged to reduce its carbon intensity by half by 2030. The landmark SLB transaction marks NWD’s ambitious goal of decarbonising beyond existing targets within the GBA portfolio. They are committed to supporting climate change mitigation through extensive adoption of renewables for their core property business, and they hope their issuance will generate momentum for sustainable development in Greater China and inspire others to join this important cause.
In view of overwhelming investor interest, NWD priced an additional HKD1.5 billion SLB in late January, a 10-year private placement (coupon rate: 3.5%) and the world’s first HKD-denominated SLB.
Together with partners, colleagues, and stakeholders, NWD will continue their efforts in building sustainable communities and creating a better world that will serve our next generation.
Supported by NWD’s investors and stakeholders, the 10-year USD 200 million bond saw a sextuple oversubscription with over 80% participation from international ESG investors, allowing NWD to achieve the lowest yield for a public USD-denominated bond offering to-date.
With the Group’s CSV vision, NWD remains forward looking by consistently strengthening decarbonisation efforts across their core property business within the region. Since 2018, NWD has raised nearly HKD 12 billion through sustainable financing to support the development of green buildings and other sustainability initiatives within the GBA. Under the New World Sustainability Vision 2030, NWD pledged to reduce its carbon intensity by half by 2030. The landmark SLB transaction marks NWD’s ambitious goal of decarbonising beyond existing targets within the GBA portfolio. They are committed to supporting climate change mitigation through extensive adoption of renewables for their core property business, and they hope their issuance will generate momentum for sustainable development in Greater China and inspire others to join this important cause.
In view of overwhelming investor interest, NWD priced an additional HKD1.5 billion SLB in late January, a 10-year private placement (coupon rate: 3.5%) and the world’s first HKD-denominated SLB.
Together with partners, colleagues, and stakeholders, NWD will continue their efforts in building sustainable communities and creating a better world that will serve our next generation.
