Agricultural Bank of China contributes to HKD 1.2 billion syndicated loan to support the expansion activities of Xinyi Glass in Malaysia

Project narrative

On March 25, 2019, Xinyi Glass secured a four-year syndicated loan with an amount of HKD 1.2 billion involving Agricultural Bank of China debt for the expansion of the Xinyi Glass Factory (信义玻璃). The loan carried a maturity period of 4 years. The Hongkong and Shanghai Banking Corporation (HSBC), Mizuho Bank, Mitsubishi UFJ Bank (Hong Kong Branch) and the Agricultural Bank of China (Macao Branch) are the leading sponsors of this green loan. The HSBC, Mizuho Bank and Mitsubishi UFJ Bank (in no particular order) are also account book managers and green financial advisers. The Xinyi Glass Factory has signed contracts with the above four banking institutions on March 29, 2019, marking its determination to further promote green and environmental protection. This green loan is the first financing plan covering the development concepts of the “Belt and Road” and the “Great Bay Area”. The financing amount will be mainly used for three major projects, including the expansion of the Xinyi Glass Factory's Malaysian Malacca (Malay: Melaka) production base project, the construction of a domestic low-emission coated glass production line project and the provision of funds for the Guangxi Beihai production base project.