DBS Hong Kong grants US$35m green-linked loan to down apparel firm Bosideng
The loan has a one year tenor.
DBS Bank Hong Kong is extending a US$35m sustainability-linked loan with a one year tenor to Bosideng International Holdings Limited, a Chinese down apparel retailer.
This is Bosideng’s first sustainability-linked loan and the largest green-linked loan taken out by a down apparel retailer, according to a press release.
The loan will be used for Bosideng’s working capital. Under the loan agreement, Bosideng will obtain Responsible Down Standard (RDS) certification for at least 95% of its down apparel.
The RDS is set by the global non-profit organisation Textile Exchange and the company Control Union Certifications, which work closely with all sectors of the textile supply chain.
Boisideng currently has an MSCI corporate ESG rating of BBB
MSCI ESG Ratings measure a company’s management of financially relevant ESG risks and opportunities, according to their exposure to ESG risks and how well they manage those risks relative to peers, its website said.