Hong Kong-based data centre provider, SUNeVision Holdings, has announced that it has signed an agreement with HSBC for its first sustainability-linked loan (SLL), totalling of HK$3 billion.
The 35-month term SLL, comprising two facilities, a HK$2 billion term loan and a HK$1 billion revolving credit facility, is the first of its kind in the Hong Kong data centre sector, and reaffirms SUNeVision’s adherence to sustainable development while pursuing long-term growth. The SLL facilities have been structured to incorporate tiered pricing to encourage the achievement of sustainability initiatives.
SUNeVision will be eligible to receive interest rate savings upon realising pre-determined targets which address material ESG issues. These sustainability performance targets include improvements in power usage effectiveness and the overall coefficient of performance (COP), along with the fulfilment of green building certifications. The loan proceeds are to be used for general corporate funding purposes, including driving the long-term sustainability performance of the Company.
Raymond Tong, chief executive officer and executive director of SUNeVision, said: “We are extremely pleased to have secured our first sustainability-linked loan from HSBC. The sustainability-linked loan reflects our aspiration to find new ways to finance and operate a more sustainable business. It underscores our unwavering commitment to long-term business continuity and sustainable development, as we continue to improve our environmental performance in current data centres while implementing sustainable design elements into new developments.”
Matthew Hung, managing director, Head of Corporate Coverage, Global Banking Hong Kong, HSBC, said: “SUNeVision’s debut SLL, also the first of its kind for data centre providers in Hong Kong, has demonstrated how the industry can make use of sustainable practices to enhance the energy efficiency of its operation. We will continue to leverage our deep expertise in corporate and sustainable finance to support our clients to act on their sustainability ambitions.”