MUFG closes HK$1.35b dual currency green term loan for Xinyi Glass Holdings

The three-year syndicated loan was 2.25 times oversubscribed.

MUFG Bank has successfully closed a US$172m (HK$1.35b) equivalent dual currency sustainability-linked term loan for glass product manufacturer, Xinyi Glass Holdings.

Denominated in HKD and USD, the three-year syndicated transaction is Xinyi’s first sustainability-linked loan. The facility is 2.25 times oversubscribed.

MUFG served as the loan’s sole mandated lead arranger and bookrunner, sole sustainability coordinator and facility agent. 

The deal includes sustainability performance targets linked to levels of greenhouse gas emission and energy consumption of Xinyi’s production activities, with annual reductions of maximum intensity and density levels committed by the company, MUFG said.