KUALA LUMPUR: Hap Seng Consolidated Bhd
's unit, Hap Seng Management Sdn Bhd, has issued the first tranche of sustainability-linked bonds under its unrated bonds programmes of up to RM5bil in nominal value.
The issuance took place last month with OCBC Bank (Malaysia) Bhd as its sole lead manager, it said in a joint statement with OCBC Bank.
According to the statement, the issuance aligned itself with nine of the 17 UN sustainable development goals to safeguard the well-being of employees and their workplace, limiting the impact of its business operations on the environment and alleviating the economic and social disparities in Malaysia.
The sustainability-linked bonds were structured in accordance with the International Capital Market Association's sustainability-linked bond principles and features a variable interest rate adjustment mechanism based on the achievement of predetermined sustainability performance targets.
"We intend to do our part as a corporate by contributing towards the preservation of natural resources and the mitigation of the adverse impacts of climate change through the adoption of best practices in our operations," said Hap Seng group managing director Datuk Edward Lee Ming Foo.
Meanwhile, OCBC Bank managing director, senior banker and head of investment banking Tan Ai Chin said it views the increasing implementation of sustainable finance as an overwhelmingly positive sign the corporate sector is aligned to the government's commitment towards achieving carbon neutrality by 2050.
's unit, Hap Seng Management Sdn Bhd, has issued the first tranche of sustainability-linked bonds under its unrated bonds programmes of up to RM5bil in nominal value.The issuance took place last month with OCBC Bank (Malaysia) Bhd as its sole lead manager, it said in a joint statement with OCBC Bank.
According to the statement, the issuance aligned itself with nine of the 17 UN sustainable development goals to safeguard the well-being of employees and their workplace, limiting the impact of its business operations on the environment and alleviating the economic and social disparities in Malaysia.
The sustainability-linked bonds were structured in accordance with the International Capital Market Association's sustainability-linked bond principles and features a variable interest rate adjustment mechanism based on the achievement of predetermined sustainability performance targets.
"We intend to do our part as a corporate by contributing towards the preservation of natural resources and the mitigation of the adverse impacts of climate change through the adoption of best practices in our operations," said Hap Seng group managing director Datuk Edward Lee Ming Foo.
Meanwhile, OCBC Bank managing director, senior banker and head of investment banking Tan Ai Chin said it views the increasing implementation of sustainable finance as an overwhelmingly positive sign the corporate sector is aligned to the government's commitment towards achieving carbon neutrality by 2050.
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