3rd September 2018 – Leo Paper Group (Hong Kong) Limited (the “Group”), a leading global printing communications company based in Hong Kong, has announced that its wholly-owned subsidiary, Leo Paper Group Finance Limited (“Leo”), has signed a HKD350m Four-Year Green Loan Term and Revolving Credit Facility (“Green Loan”) with a group of seven leading banks.
The loan is to be used in accordance with the Group’s 2018 Green Loan Framework which has earned the Green Finance of Pre-Issuance Stage Certificate issued by the Hong Kong Quality Assurance Agency (“HKQAA”) on 13th August 2018. Leo is the first privately-held company in Hong Kong to obtain this Green Finance Certificate and complete a Green Loan.
Group Chairman Mr. Samuel Leung commented on the financing, “We are committed to be a global green printer and proud to be the first Hong Kong privately-held company and the first manufacturer to receive the HKQAA Green Finance Certificate. This demonstrates that private companies committed to sustainable developments can also meet the stringent requirements set under the HKQAA Green Finance Certification Scheme, which had only accredited blue-chip listed companies in the past.”
“Over the past two decades, the Group has focused on energy efficiency management, carbon and emissions reduction, solid waste and waste water management, green buildings, resources utilisation and recycling of natural resources. We have invested over HKD150m on green projects in the past six years and succeeded in saving 25.68m kWh of electricity consumption and reduced carbon emissions by 13,540 tonnes. With the full support from our close business partners and the injection of this HKD350m Green Loan, we are geared for greener achievements in the near future.”
“Leo’s Green Loan programme has been completed in just 40 days which has set an industry record!” said Mr. King Lai, the Group CFO. “We are grateful to all professional parties involved, including the HKQAA team, seven participating leading banks and our internal dedicated team. Through the best efforts from all of us, we finally turned this mission from impossible to possible within a limited timeframe. We are proud to be the pioneer among privately-held companies to obtain the Green Finance Certificate. Green is the ultimate goal and we hope more and more industrial players will join us in the same path.”
Proceeds of the Green Loan are to be used to finance 20 green projects of the Group in China in coming few years. These include investments in plants and facilities used by the printing industry that aim at raising energy efficiency and reducing carbon emissions and waste, as well as projects that promote green construction.
The Group’s 2018 Green Loan Framework is now available on the HKQAA website for download: http://www.hkqaa.org/cmsimg/Green%20Finance/20180903_HKQAA_Green_Finance_Cer.pdf
The signing ceremony of the Group and the seven institutions participating in the Green Loan take place today, demonstrate the Group’s commitment in deepening its environmental constructions, the participating banks are:
- The Bank of East Asia, Ltd.
- BNP Paribas
- Citibank, N.A.
- Hang Seng Bank Ltd.
- The Hongkong and Shanghai Banking Corporation Ltd.
- Mizuho Bank, Ltd.
- MUFG Bank, Ltd.