Far Eastern Group partners with KGI Securities to launch Taiwan's first Sustainability Development exchange bond
From：Provided by Far Eastern New Century Corporation/Financial Department
Far Eastern New Century Corporation responded to the Sustainability Development policy and was the first to obtain the qualification recognition for Taiwanese companies to issue Sustainability Development exchange bonds. The first batch of Sustainability Development exchange bonds was listed for trading on the OTC Market on August 8th. The issuance targets Asia Cement Corporation and Far Eastern Department Stores, with amounts of NTD 10 billion and NTD 1.5 billion, respectively, and a 5-year term, with KGI Securities serving as the lead underwriter.
Douglas Hsu stated that in the era of carbon value, companies must face the impact of climate change and propose corresponding solutions to transform net zero emissions into competitiveness in order to stand out in the global carbon reduction race. Far Eastern New Century Corporation is a pioneer in innovation, closely integrating financial planning with the company's sustainable strategy. It has successfully issued multiple of Taiwan's top sustainable financial products, guiding funds into sustainable projects through diversified channels and achieving a positive cycle of government, investors, and enterprises.
The funds raised this time will be used to support Far Eastern New Century Corporation and its subsidiary Oriental Petrochemical (Taiwan)'s investment plan for green benefits. Through process improvement, equipment refinement, and energy management, the company aims to achieve a sustainable transformation goal of reducing carbon emissions by 50%, green products by 50%, and green raw materials by 50% by 2030. This will help the company's long-term operational development and practice the sustainable management concept of environmental friendliness and social prosperity.
The Guomai Center will release the operational guidelines for Sustainability Development bonds in December 2023, opening up the scope of issuing Sustainability Development bonds through the conversion of corporate bonds, hoping to expand the size of the Sustainability Development bond market. Far Eastern New Century Corporation once again participates in this grand event, hoping to demonstrate exemplary power and push Taiwan's Sustainability Development bond market towards a new milestone.
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