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Hong Kong's first green bond

One of Asia's largest REIT's has become the first property company to launch a green bond in Hong Kong.

Link Real Estate Investment Trust have sold a $500Million note due in 2026 at a rate of 2.8% stating that the funds will mainly be used for its £1.35Billion Kowloon East Development in Hong Kong.

The development led by Nan Fung Development will be an 82,000 sqm grade An office block with retail space and is forecasted to meet local and global criteria on sustainability and environmental guidelines when completed in 2019.

"We have also identified various asset enhancement projects where the funds can be deployed ... as long as they comply with the criteria of green certificates," Hubert Chak, Link Asset Management's finance director, told reporters on Monday.

Written by Nick Dereka, Head of Digital, Prime People Plc.