Hongkong Land successfully prices its first green bond HONG KONG , July 7, 2021 |PRNewswire| -- Hongkong Land today announced that it has successfully priced its inaugural green bond (the "bond"), raising US$500 million at a coupon rate of 2.25% per annum with a 10-year maturity. The bond was allocated to a mix of Asian and European institutional investors, and was three times oversubscribed. The successful pricing of this bond underscores Hongkong Land''s commitment to both sustainability and development of green financing in the region. The net proceeds from this inaugural green bond will be used to fund the Group''s initiatives that relate to green buildings, energy efficiency, renewable energy, clean transportation, sustainable water management, and climate change adaptation in accordance with the newly established Hongkong Land Green Financing Framework (the "GFF"). Mr Simon Dixon , Chief Financial Officer of Hongkong Land, said, "The successful pricing of Hongkong Land''s first green bond represents another significant step taken by the Group towards integrating sustainability in all aspects of our business, and further underscores our ongoing commitment to the development of green capital markets." The bond has been rated A2 and A by Moody''s and SP Global Ratings, respectively.