Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Tuesday, 8 June 2021, 17:01 HKT/SGT
Share:
    

Source: Champion REIT
Champion REIT Secures First Sustainability-Linked Loan
Driving ESG performance in alignment with 2030 targets

HONG KONG, June 8, 2021 - (ACN Newswire) - Champion Real Estate Investment Trust ("Champion REIT" or "Trust") (Stock Code: 2778), owner of Three Garden Road and Langham Place, has signed its first five-year HK$3.0 billion unsecured sustainability-linked term and revolving credit facilities. The loan proceeds will be used for refinancing and general corporate funding purposes. The loan is backed by:

-- DBS Bank Ltd. (as Sustainability Advisor)
-- Bank of China (Hong Kong) Limited
-- Industrial and Commercial Bank of China (Asia) Limited
-- Hang Seng Bank Limited
-- The Bank of East Asia, Limited
-- Oversea-Chinese Banking Corporation Limited
-- Citigroup Global Markets Asia Limited
-- United Overseas Bank Limited

Based on the facilities agreement, Champion REIT will receive a discount on the loan's interest rate once the Trust has achieved the pre-determined sustainability-linked performance targets. The sustainability-linked performance targets are based on the aspects of Environmental, Social and Governance ("ESG"):

-- Champion REIT achieves reduction of carbon intensity;
-- Champion REIT attains WELL Building Standard; and
-- Champion REIT retains its listing on the Hang Seng Corporate Sustainability Benchmark index.

The targets are aligned with the Trust's 2030 ESG plan, established in 2019, which set the reduction of carbon intensity by 42% as one of the key performance indicators. With the financial incentive, this partnership will reinforce the Trust's commitment to embracing sustainability in every facet of its operations.

Over the years, Champion REIT's commitment to sustainability excellence has gained local and international recognition. This includes the WELL Core Certification at Platinum level under the WELL Building Standard by the International WELL Building InstituteTM being awarded to Three Garden Road, making it the first existing building in Hong Kong to score at the highest level of WELL certification. Moreover, the Trust was chosen as a constituent of the Hang Seng Corporate Sustainability Benchmark Index for the fifth consecutive year and was included in the Hang Seng ESG 50 Index in 2020.

Ms. Ada Wong, Chief Executive Officer of Champion REIT, said, "Today's announcement marks an important milestone in our sustainability journey and reinforces our commitment to driving ESG's performance over the past several years. This partnership demonstrates well how we have achieved financial value and business benefits by embracing sustainability. In the future, we will continue to explore other possibilities in sustainable financing to drive the Trust strategy forward and bring positive change to society. We are glad to have our relationship banks to support us along this journey and we look forward to building our partnerships together."

About Champion REIT (Stock Code: 2778)
Champion Real Estate Investment Trust is a trust formed to own and invest in income producing office and retail properties. The Trust focuses on Grade-A commercial properties in prime locations. It currently offers investors direct exposure to nearly 3 million sq. ft. of prime office and retail floor area. These included two Hong Kong landmark properties, Three Garden Road and Langham Place, as well as joint venture stake in 66 Shoe Lane in Central London. Since 2015, the Trust has been included in the Constituent of Hang Seng Corporate Sustainability Benchmark Index of Hang Seng Indexes.
Website: www.championreit.com




Topic: Press release summary
Source: Champion REIT

Sectors: Real Estate
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2021 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.



Champion REIT
Nov 22, 2021 17:18 HKT/SGT
Champion REIT Announces Opening of LANGHAM BEAUTY
Oct 18, 2021 17:07 HKT/SGT
Champion REIT "Magical Langham Place in Your Lens" Student Filming Competition Concludes Successfully
Oct 6, 2021 15:36 HKT/SGT
Champion REIT Enters Sustainability-Linked Swap with DBS Hong Kong
Aug 10, 2021 13:58 HKT/SGT
Champion REIT Announces 2021 Interim Results
July 12, 2021 17:05 HKT/SGT
Champion REIT Holds "Magical Langham Place in Your Lens" Student Filming Competition
Feb 18, 2021 14:05 HKT/SGT
Champion REIT Announces 2020 Annual Results
Jan 11, 2021 20:35 HKT/SGT
HKIRA's first virtual IR Annual Symposium concludes with positive response
Dec 22, 2020 17:30 HKT/SGT
Champion REIT is Honoured with Prestigious Accolades in Multiple Categories amidst Challenging 2020
Aug 20, 2020 20:29 HKT/SGT
Champion REIT Announces 2020 Interim Results
July 8, 2020 18:30 HKT/SGT
"The Real Champion - Entrepreneur in Action" Receives Overwhelming Responses Business Leaders Share Pathways to Success
More news >>
 News Alerts
Copyright © 2021 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 214 890 4418 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575

Connect With us: