Henderson Land secures HK$2.5b green loan from Bank of China Hong Kong

The loan is unsecured and has a tenure of three years.

Henderson Land Development Company has signed a HK$2.5b green loan with the Bank of China Hong Kong (BOCHK).

Along with an earlier green loan with Bank of China’s Shanghai branch, the loan is part of the group’s first green financing facilities approved by commercial banks in onshore and offshore markets, respectively.

The green loan is unsecured and has a three-year tenure.

Henderson Land plans to use the proceeds for strengthening its green portfolio of investment and development properties with BEAM Plus, BEAM, LEED, and Green Building Design Label pre-certifications, according to a joint release.

As of December 2020, the group shared that it has cumulatively achieved 41 BEAM  Plus, 19 BEAM, 14 LEED and 7 China Green Building Design Labels. 

Henderson Land also said that it has already achieved an 8.6% reduction in energy consumption between 2020 and baseline year 2015, compared to the 10% reduction target by 2025. 

The group said that it has used 70% less timber formwork in 2020 as a result of its ‘Timberless Construction’ approach.