The Sustainability-Linked Bond Framework has been developed by the Group as a basis for entering into future sustainability-linked financing, including by way of issuing Sustainability-Linked Bonds, and by reference to the International Capital Markets Association (ICMA) Sustainability-Linked Bond Principles 2020.

In June 2021, Shui On Land Limited announced that the Company, through its wholly-owned subsidiary, Shui On Development (Holding) Limited, has priced its annual US$400 million Sustainability-Linked Bonds (“SLBs”) under the Sustainability-Linked Bond Framework (the “SLB Framework”).

The SLBs have a coupon of 5.50% and a tenor of five years with a call feature in the fourth year.

For the purpose of issuing green bond(s), we have developed SOL Green Finance Framework.

We launched our first green bond in November 2019, raising US$300 million at a coupon rate of 5.75%, maturing in 2023.

All of the proceeds were used to finance acquisition of Corporate Avenue 5 in Taipingqiao, Shanghai, the renovation of Shui On Plaza in Shanghai and the renovation of Shui On Land headquarters.

In 2020, we reopened the inaugural senior bond for a tap of US$200 million, bringing the total amount to US$500 million. The reopening transaction demonstrates our commitment towards building dynamic communities that integrate the sustainability philosophy of building green and healthy communities.