Gold Peak secures $675m green loan to fund battery expansion

The 3-year facility will support its rechargeable battery and sustainable energy solutions businesses.

Gold Peak Technology Group has completed a $675m green and sustainability-linked term loan facility with 10 major banks.

The Hong Kong-listed battery and electronics group said the 3-year syndicated facility includes a tiered incentive mechanism that rewards progress against sustainability targets, with the company eligible for an interest rate reduction upon achievement.

Hang Seng Bank acted as the mandated lead arranger and bookrunner for the facility. Shanghai Commercial Bank was also a mandated lead arranger, whilst Malayan Banking Berhad served as lead arranger.

Gold Peak said proceeds from the facility will be used to strengthen its financial position, accelerate the expansion of its rechargeable battery and sustainable energy solutions businesses, support long-term investment in advanced manufacturing technologies, and deepen its green and sustainable business practices.