(Hong Kong, 10 June 2022) – A leading integrated manufacturer of automobile glass, energy-saving architectural glass and high-quality float glass, Xinyi Glass Holdings Limited ("Xinyi Glass" or the "Group") (Stock Code: 00868) is pleased to announce that the Group has secured a three-year HK$1.35 billion equivalent dual-currency syndicated loan led by MUFG Bank, Ltd. ("MUFG Bank"), and is also the Group's first syndicated sustainability-linked loan.
The facility is 2.25 times oversubscribed, fully demonstrating high recognition and support from an international financial institution of Xinyi Glass’s environmentally-friendly and energy-saving products and sustainable development strategies. MUFG Bank acts as the Sole Mandated Lead Arranger and Bookrunner, Sole Sustainability Coordinator and Facility Agent of the syndicated loan. As the first syndicated sustainability-linked loan of Xinyi Glass, its sustainability performance targets are linked to levels of greenhouse gas emission and energy consumption of the Group’s production activities. The Group had also committed to its annual reductions of maximum intensity and density levels.
Dr. LEE Yin Yee, B.B.S., Chairman of Xinyi Glass, said, "I would like to express my sincere gratitude to MUFG Bank and all loan syndicate members for their solid support of Xinyi Glass in implementing its sustainable development philosophy. As a leading blue-chip enterprise in the industry, Xinyi Glass has constantly upheld its mission of ‘Leading a Green New Life’, with a long-term commitment to the development of high-tech and environmentally-friendly energy-saving products to support the national sustainable development strategy. In the future, we will continue to explore more green financing channels, alongside our financial strengths, to formulate a clearer roadmap for implementing environmental protection and sustainable development aspects, so as to help the country achieve its long-term goal of ‘Carbon Neutrality’ early.”
*Pictured: Jason Lau, Xinyi Glass’ CFO & Company Secretary (2nd from left) and MUFG senior executives (from left to right): Augusto King, Managing Director, Co-Head of Capital Markets Group, Asia, Debt Capital Markets - Loans & Bonds; Cerlin N.L. Ip, Managing Director, Head of Global Corporate Banking, Hong Kong Global Corporate Banking Division for Asia, Hong Kong Branch; Johnny C.K. Wong, Managing Director, Head of Conglomerates & Local Corporates, Global Corporate Banking Hong Kong