Ganzhou City Investment Holdings Group Co., Ltd. (referred to as "Ganzhou City Investment Group") will issue a 3-year US dollar sustainable bond on September 4, 2024 on the Hong Kong Stock Exchange with an initial price guidance of 6.60%. CCXGFI has been appointed by Ganzhou City Investment Group as an external review agency with relevant expertise and qualifications recognized by the Hong Kong Monetary Authority's Sustainable Finance Grant Scheme to provide a second-party opinion on the sustainable financing framework formulated by Ganzhou City Investment Group.
Ganzhou City Investment Group will integrate the concept of sustainable development into its overall business strategy, investments, construction, operations, and other aspects by establishing the Ganzhou City Investment Holdings Group Co., Ltd. sustainable finance framework for green, sustainable, and socially responsible financing transactions.
Following approval by the CCX Sustainable Development Assessment Committee, CCXGFI has awarded Ganzhou City Investment Holdings Group Co., Ltd. a Sustainable Finance Framework Sf-2 rating. It confirms that the four core elements of Ganzhou City Investment Holdings Group Co., Ltd.'s sustainable finance framework comply with the requirements set forth in the International Capital Market Association's Green Bond Principles (2021 version), Social Bond Principles (2023 version), Sustainable Development Bond Guidelines (2021 version), Loan Market Association, Asia-Pacific Loan Market Association, and Loan Syndications and Trading Association's Green Loan Principles (2023 version), and Social Loan Principles (2023 version). The framework also demonstrates a strong alignment with the company's sustainable development strategy, indicating a high likelihood of achieving established environmental and/or social objectives and effective management of environmental and/or social risks.
The funds raised from this sustainable bond issuance will be used to refinance existing debts in accordance with the issuer's framework and the certification from the National Development and Reform Commission. Eligible environmental financing project categories include sustainable water resources and wastewater management, renewable energy, energy efficiency, sustainable management of biological natural resources and land use, and green buildings. Eligible social financing project categories include affordable infrastructure, provision of basic services, and affordable housing.
