The Green Facility was arranged by Bank of China (Hong Kong) Limited, Deutsche Bank, Ping An Bank and Standard Chartered Bank as mandated lead arrangers and bookrunner and green loan coordinators.
The proceeds of the loan facility will be used for refinancing the existing indebtedness of the Group, funding the general capital needs of the Group and financing the Eligible Green Projects (which are described in the Green Loan Principles jointly published by Loan Market Association (LMA), the Loan Syndications & Trading Association (LSTA) and the Asia Pacific Loan Market Association (APLMA)) being developed by the Group.
The financing attracted 11 lenders in syndication from various jurisdictions including major PRC banks such as Bank of China, Ping An Bank, Bank of Communications, China Construction Bank (Asia), China Everbright Bank, Bohai Bank, as well as other renowned international and regional banks such as Standard Chartered Bank, Deutsche Bank, Hang Seng Bank, Fubon Bank and Shinhan Bank.
The Group is mainly engaged in gas business and smart energy business, pipeline network construction and connection, energy trade, value-added business in China. Due to the Group’s dedication to continue to provide high-quality and efficient integrated energy services to its customers, to improve the natural environment and to promote social progression, it has received many awards including Outstanding Award for Green and Sustainable Loan Issuer (Integrated Energy Service) from Hong Kong Quality Assurance Agency in December 2022.
The Reed Smith team advising on the deal was led by Hong Kong based banking and finance counsel Crystal Li with the support from partner Michael Sinn, associates Dorothy Lo and HoYan Ko. The principle team was also supported by corporate partners Denise Jong and Anthony Woo and associate Tracy Wong.
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