U.K., Jan. 11 -- In an announcement made by New World Development Company Ltd. (NWD), the company has become the first real estate developer in the world to price a USD Sustainability-Linked Bond (SLB).
NWD reported that the SLB oversubscribed by 6 times at its peak, with participation from international ESG investors (~80%) including fund managers, asset managers and insurance companies across Asia and Europe.
The 10 year US$200mn bond has a sustainability performance target that aligns with NWD's latest 'Renewable Energy Roadmap' which details its commitments to achieving 100% Renewable Energy for NWD's Greater Bay Area rental properties by the end of 2025/26.
Banks involved in the transaction included J.P. Morgan and UBS, as Joint G...