Ping An Bank Co., Ltd. recently announced the completion of a USD 483,690,000 syndicated sustainability-linked loan with Hong Kong-listed Shandong Hi-Speed Holdings Group Limited (“SDHG”, 00412. HK), which is a major subsidiary of Fortune Global 500 company Shandong Hi-Speed Group Co., Ltd.
This landmark transaction is SDHG’s largest syndicated facility and represents its inaugural offshore sustainability-linked loan. Ping An Bank (through the offshore financing center of its head office) and China Everbright Bank (Hong Kong branch) jointly led the syndicated loan. Other lenders include Hua Xia Bank, China Zheshang Bank, Bank of Communications and China CITIC Bank Corporation. Ping An Bank is also the mandated lead arranger and bookrunner, facility agent and sustainability structuring agent.
Richard Mazzochi, partner and head of KWM's Banking and Finance department in Hong Kong, said: “We are honoured to have assisted Ping An Bank with SDHG’s first sustainability-linked loan. We regularly work with clients to design and execute innovative ESG-related financing solutions.”
Minny Siu, partner of KWM's Banking and Finance department in Hong Kong, said: “We are delighted to be involved in this landmark transaction, which illustrates our team’s ability to advise on a wide range of transactions and regulatory matters in the ESG space.”
Andrew Fei, partner of KWM’s Banking and Finance department in Hong Kong, said: “Congratulations to all parties on achieving this milestone. We look forward to further collaboration in the future”.
KWM provided support on all aspects of the cross-border financing, with a particular focus on crafting the sustainability-linked provisions. The KWM Hong Kong team is led by partner Andrew Fei. The KWM Shanghai team is led by partner Wang Xiaoxue (Stella).
*Any reference to "Hong Kong" or "Hong Kong SAR" shall be construed as a reference to the "Hong Kong Special Administrative Region of the People's Republic of China".