Unrated status hinders NWD’s green ambitions

Hong Kong green lake and blue sea from PA 230x150
By Morgan Davis
29 Nov 2018

Hong Kong conglomerate New World Development Co printed its first green bond this week, raising $310m. While its green efforts were lauded, the company’s lack of rating kept many investors at bay.

New World took its fundraising plan to Europe last week, using the green label to get its foot in the door with new investors in the region. The roadshow was part of the firm’s long-term efforts to build relationships with bond buyers in Europe, said a Hong Kong ...

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