Citi facilitates market first KPI-linked sustainability bond for a China Corporate

  • Sunny Optical Technology (Group) Company Limited has successfully priced its inaugural 3.5-year sustainability-linked bond offering, with an issue size of USD400mm. This is the 1st KPI-link bond for a China Corporate.
  • The landmark offering represented the first offshore sustainability-linked bond issued out of the Chinese corporate space, as well as the first Chinese USD corporate bond priced in 2023.
  • Citi served as Leading Joint Global Coordinator, Sustainability Structuring Advisor.
  • Sunny Optical’s debut sustainable capital markets offering and the first offshore SLB priced by a Chinese corporate issuer, showcasing the Issuer’s decarbonization commitment in a pragmatic and ambitious manner
  • The first Asia ex-Japan benchmark-sized Reg S transaction this year and the market-reopening trade for Chinese corporate debt capital markets in 2023
  • The SLB was offered pursuant to Sunny Optical’s Sustainability-linked Financing Framework requiring Sunny Optical to reduce Scope 1 and 2 greenhouse gas emissions intensity by 20% by FY2025 versus a FY2021 baseline

The Group has set specific sustainable development goals, built a sustainable development management system and established corresponding assessment indicators, in order to further deepen the capacity building for sustainable development.

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