ICBC contributes to NZD 500 million sustainability-linked syndicated lending facility to Oceania Healthcare, Ltd. for unspecified corporate purposes

Project narrative

In June 29, 2022, a group of 3 banks -- ANZ, ASB, and ICBC -- announced the signing of a NZD 500 million sustainability-linked syndicated lending facility with Oceania Healthcare Limited. The facility has a five year maturity and an unknown variable interest rate. The facility supports Oceania's stated goals of sustainable growth, linking over two-thirds of the company's debt-funding to environmental and social sustainability goals and targets. The facility is linked to three Key Performance Indicators ("KPIs") that cover environmental and social aspects of Oceania's business strategy. The targets as as follows: reduce greenhouse gas emissions in line with targets approved by the Science Based Targets initiative, increase the diversion of construction waste from landfill, and improve resident experience and wellbeing. ANZ served as the sustainability coordinator for the facility, working with Oceania to develop this facility.