Slaughter and May advises MTR Corporation Limited on its first green bond issue
Slaughter and May, Hong Kong, is advising MTR Corporation Limited (MTR) on its first green bond the proceeds of which will be used exclusively to fund qualifying green investments. The US$600 million (HK$4.68 billion) 10-year green bond (the Bond) will be issued by MTR Corporation (C.I.) Limited under its US$4 billion Debt Issuance Programme and is fully guaranteed by MTR.
Proceeds from the Bond will be used to fund or refinance eligible investments set out in MTR’s Green Bond Framework which may include works relating to low carbon transportation, energy efficiency, sustainable transport solutions and real estate properties, adaptation to climate change, biodiversity and conservation, water management, pollution prevention, waste management, air quality improvement, and noise reduction.
HSBC, Bank of America Merrill Lynch and Goldman Sachs (Asia) acted as the lead managers for the Bond issue.
HSBC and Bank of America Merrill Lynch acted as the green advisers to MTR.
Sustainalytics was engaged by MTR to provide a second opinion on the Green Bond Framework and MTR’s environmental credentials.