The panda bond was issued at a fixed coupon rate of 2.8% per annum (p.a.), putting it at a record low upon panda bonds with a three-year tenor issued under a private placement. This will contribute to lowering CLI’s financing costs.
CapitaLand Investment (CLI) has raised RMB1 billion ($186 million) from the second tranche of its inaugural sustainability-linked panda bond, says the group in its July 15 announcement.
The second and final tranche of the bond saw an order book that was 2.64 times subscribed, bringing the total amount raised to RMB2 billion.
