Standard Chartered and UOB provide a HK$5.29 billion green loan to Gaw Capital-led consortium for its acquisition of 1111 King's Road

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    21 January 2021

    Standard Chartered Bank (Hong Kong) Limited (“SCBHK”) and UOB have teamed up to provide a HK$5.29 billion green loan to a Gaw Capital Partners-led consortium to support its acquisition of 1111 King’s Road (previously named as Cityplaza One) in Hong Kong.

     

    1111 King’s Road currently holds a Platinum Green Building Certification under the BEAM Plus1 assessment scheme which is recognised and accredited by the Hong Kong Green Building Council. The platinum certification is the highest possible rating based on a basket of criteria2 including water efficiency and waste management. It recognises buildings with sustainability incorporated into their design and operation, and which contribute positively to Hong Kong’s emission intensity reduction goals.

     

    SCBHK and UOB acted as joint mandated lead arrangers and joint bookrunners for the green loan facility to the Gaw Capital Partners-led consortium. The loan supports Gaw Capital’s continued efforts in implementing its sustainable strategy in line with the United Nations’ Sustainability Development Goals.

     

    Ms Helen Hui, Co-Head, Client Coverage, Corporate, Commercial and Institutional Banking, Hong Kong, Standard Chartered, said, “Standard Chartered is fully committed to promoting sustainable finance and embedding sustainability in our business operations. We are pleased to provide this green loan to the Gaw Capital Partners-led consortium for the purchase of 1111 King’s Road and installation of more green facilities in this Grade-A office tower. We are keen to do more and seek opportunities to work with our clients in developing Hong Kong into a hub for green finance.”

     

    Mrs Christine Ip, CEO – Greater China, UOB, said, “At UOB, financing is one way we partner our clients to promote sustainable development. Our support to the consortium led by Gaw Capital Partners demonstrates our commitment to working with our clients to help drive their sustainability efforts as we continue to forge a sustainable future with our stakeholders.”

     

    Ms Christina Gaw, Managing Principal & Head of Capital Markets of Gaw Capital Partners, said, “Gaw Capital Partners has continued to integrate ESG considerations into our business since 2014. With our latest purchase in Hong Kong, we are committed to maintaining 1111 King’s Road, Hong Kong under Platinum BEAM Plus accreditation, which means that the building will reduce the environmental impact in terms of different aspects, including operation management, materials and waste aspect, energy use, water use and indoor environment quality. This green loan reflects our commitment in finding ways to finance and operate a more sustainable business.” 


    1 BEAM Plus is a leading initiative in Hong Kong offering independent assessments of buildings' sustainability performance. 

    2 For details, please visit HKGBC’s website: https://www.hkgbc.org.hk/eng/beam-plus/beam-plus-references/manuals-assessment/manuals-assessment.jsp

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    About UOB
    United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of more than 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings. In Asia, UOB operates through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, as well as branches and representative offices across the region.

     

    Over more than eight decades, generations of UOB employees have carried through the entrepreneurial spirit, the focus on long-term value creation and an unwavering commitment to do what is right for our customers and our colleagues.

     

    We believe in being a responsible financial services provider and we are committed to making a difference in the lives of our stakeholders and in the communities in which we operate. Just as we are dedicated to helping our customers manage their finances wisely and to grow their businesses, UOB is steadfast in our support of social development, particularly in the areas of art, children and education.

     

    For media queries, please contact media@uobgroup.com 

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