Linklaters advised New World Development (NWD) on its issuance of US$200m 5.875% 5-year social bonds and US$500m 6.15% green perpetual bonds. This transaction marks the world’s first US dollar-denominated social and green dual tranche bond offering in the public bond markets and is the first US dollar-denominated social bond in the public bond markets by a non-financial corporate in Asia.
As part of the transaction, the firm also advised NWD on a related tender offer of US$950m 4.375% guaranteed notes due 2022.
The Linklaters team was led by capital markets partner Gloria Cheung.
Partner Gloria Cheung, commented:
“Linklaters advises clients on some of the most innovative and high profile sustainable finance transactions in the market. We are honoured to have had the opportunity to support NWD on this ‘world first’ transaction. Our team looks forward to continuing to support NWD on other strategic opportunities to help them to work towards achieving their sustainability goals.”
Linklaters regularly advises on first-to-market ESG-themed debt capital markets transactions, including previously advising NWD on its sustainability-linked bonds – the world’s first US dollar sustainability-linked bonds by a real estate company, and more recently advising Bank of China on the world’s first sustainability re-linked notes.
