HKBN (HKG:1310) launched its first sustainability-linked syndicated loan worth HK$6.75 billion, Bloomberg News reported Wednesday, citing people familiar with the matter.
The loan has a five-year term with an opening interest spread of 220 basis points over the Hong Kong Interbank Offered Rate, the report said.
The interest margin of the loan is tied to the broadband services provider's net leverage ratio, and should be reduced once the broadband company meets targets related to carbon emission and cybersecurity training for staff, the report said.
The underwriters include BNP Paribas, Credit Agricole CIB, and DBS Bank, the report said.
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