Share
PETALING JAYA (May 19): Sunway Real Estate Investment Trust (Sunway REIT) has completed its first issuance of sustainability-linked commercial papers (SLCPs) amounting to RM70.0 million in nominal value, marking the inaugural drawdown under a RM3.0 billion SLCP programme established earlier this year.
According to a Bursa announcement yesterday, the issuance was undertaken yesterday by Sunreit Capital Bhd, the special purpose issuer of Sunway REIT, with Public Investment Bank Bhd acting as principal adviser, lead arranger and lead manager. Proceeds will be advanced to Sunway REIT to finance its investment activities, including capital expenditure.
The SLCPs are structured in accordance with Sunway REIT's Sustainability-Linked Financing Framework, aligned to the Sustainability-Linked Bond Principles by the International Capital Market Association and the Asean Sustainability-Linked Bond Standards issued by the Asean Capital Market Forum.
The key performance indicators, sustainability performance targets and the mechanism for sustainability adjustment have been embedded into the transaction documents for the programme.
The RM3.0 billion programme was first announced on March 13.
Yesterday's RM70 million tranche is the first of what is expected to be a series of issuances under the programme as Sunway REIT seeks to diversify and green its funding base.
..........
EdgeProp brings you another month of data-driven insights, exclusive interviews, and market commentaries. Subscribe now for your free copy!
