NWC Completes First US$310 Million Green Bond Offering
New World China Land Limited (“New World China” or “NWC”), the flagship mainland China property arm of New World Development Company Limited (“NWD” or “the Group”; Hong Kong stock code: 0017), is pleased to announce the closing of the sale of its US$310 million green bond, which has been subscribed by two times. This tranche of green bond carries a coupon rate of 4.75% and a 5-year maturity due 2023. It was issued under the New World Development Green Finance Framework and NWC’s US$2 billion medium-term note (“MTN”) programme. NWC intends to use the proceeds from the green bond to finance two eligible green projects in the Greater Bay Area. Both projects will receive national and international green building design pre-certifications and pledge to incorporate green spaces and energy-saving design and materials.
Qianhai CTF Finance Tower is a mixed-use, twin-tower landmark on a prime site in Shenzhen Qianhai Free Trade Zone. The project, which will have a total area of 180,100 sq.m., supports the provincial government’s plan to make Qianhai a financial hub for the region. Due for completion by the end of 2021, Qianhai CTF Finance Tower has already earned the U.S. LEED Gold-level Pre-certification and the WELL Building Standard Gold-level Pre-certification. It is also expected to earn a three-star rating under the China Green Building Evaluation Standard next year.
New World Zengcheng Comprehensive Development Project is a large-scale residential and commercial complex of 250,000 sq.m. in the transportation hub of eastern Guangzhou. The project, which will become New World’s one of the landmark developments in Guangzhou when completed in 2021, supports the government’s drive to boost Zengcheng’s eastern hub. New World Zengcheng Comprehensive Development Project has achieved the U.S. LEED Gold-level Pre-certification and is expected to attain a two-star rating under the China Green Building Evaluation Standard next year.
Mr. Adrian Cheng, Executive Vice-chairman and General Manager of NWD, said: “We are pleased to support NWC in issuing its first green bond and proud to receive positive responses from quality institutional investors all over the world. It demonstrates the recognition by the investment community for our sustainability vision and initiatives. We see the Greater Bay Area as one of the key regions in China of immense growth potentials, especially in terms of green developments. We will continue to build human-centric communities and to enhance the quality of life of our stakeholders and strengthen the Group’s leading position in the industry.”
The joint global coordinators for the offering are HSBC, Mizuho Securities, DBS Bank Ltd., Natixis, BNP Paribas and Crédit Agricole CIB.