Fosun successfully concluded 2024 sustainability-linked syndicated loan through greenshoe, final facility size reaching USD888 million with 25 participating banks

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Fosun International has successfully completed a USD888 million sustainability-linked syndicated loan, one of the largest of its kind for a Chinese privately-owned enterprise in 2024. The loan, initially launched in May with a first close of USD603 million, was followed by Greenshoe accessions. 25 banks participated in the syndicate, including both long-term partners and new lenders from various countries.

This loan is part of Fosun's flagship financing platform, continuing its annual tradition of 3-year syndicated loans since 2017, with sustainability-linked features incorporated since 2023. The successful completion demonstrates Fosun's strong support from both Chinese and foreign banks, as well as its commitment to ESG initiatives.

Fosun aims to continue implementing its core business-focused strategy, improve operating capabilities in advantageous industries, and optimize its debt structure and liquidity management for steady future development.

HONG KONG, Oct. 2, 2024 /PRNewswire/ -- Fosun International Limited (HKEX stock code: 00656, "Fosun International", "Fosun" or "the Company") has successfully completed a sustainability-linked syndicated loan amounting to USD888 million. The loan was initially launched earlier this year in May with first close of USD603 million, followed by Greenshoe accessions. The final size represents one of the largest of its kind in the market so far this year for a Chinese privately-owned enterprise.

The syndicate of banks involve in arranging the loan includes Bank of China (Macau), Bank of China (Shanghai), Banco Comercial Portugues, Bank of East Asia, BNP Paribas, Commerzbank, Hang Seng Bank, HSBC, Natixis, Qatar National Bank, Shanghai Commercial Bank and Standard Chartered Bank, with participation from a consortium of reputable financial institutions. HSBC, Natixis and Standard Chartered Bank are designated as ESG Coordinators for the loan.

The syndicated loan is part of Fosun's flagship financing platform. The Company has successfully completed one such 3-year syndicated loan each year since 2017, with sustainability-linked features incorporated since 2023 to advance its ESG initiatives. These loan facilities are not only participated by the long-term banking partners of Fosun, but also attract new banks to establishing relationships with the Company. The newly completed syndicated loan has attracted new lenders from China, Italy, Luxembourg, Japan, France, Thailand, Brunei and United Arab Emirates, with Bank of Beijing, Intesa Sanpaolo, MUFG and Societe Generale among the notable new participants. It is a testament to the strong support the Company received from both Chinese and foreign banks.

Fosun has established diversified financing channels, well-recognized financing capabilities and prudent financial policies, and has been proactively managing its debt duration and yield curve. Looking ahead, Fosun will continue to implement its core business-focused strategy and improve its operating capabilities in advantageous industries. It will continue to optimize its debt structure and strengthen liquidity management to prepare for the next phase of steady development.

About Fosun

Fosun was founded in 1992. After more than 30 years of development, Fosun has become a global innovation-driven consumer group. Adhering to the mission of creating happier lives for families worldwide, Fosun is committed to creating a global happiness ecosystem fulfilling the needs of one billion families in health, happiness and wealth. In 2007, Fosun International Limited was listed on the main board of the Hong Kong Stock Exchange (HKEX stock code: 00656). As of 30 June 2024, Fosun International's total assets amounted to RMB821.9 billion; it received an AA MSCI ESG rating and was the only conglomerate in Greater China with such rating.

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SOURCE Fosun

FAQ

What is the size of Fosun's 2024 sustainability-linked syndicated loan?

Fosun's 2024 sustainability-linked syndicated loan reached a final facility size of USD888 million.

How many banks participated in Fosun's 2024 syndicated loan?

25 banks participated in Fosun's 2024 sustainability-linked syndicated loan.

When did Fosun (FOSUY) start incorporating sustainability-linked features in its syndicated loans?

Fosun began incorporating sustainability-linked features in its syndicated loans in 2023.

What was the initial close amount for Fosun's 2024 syndicated loan?

The initial close for Fosun's 2024 syndicated loan was USD603 million, launched in May.

How often does Fosun (FOSUY) complete these syndicated loans?

Fosun has successfully completed one 3-year syndicated loan each year since 2017.