Taipei – Leveraging its international network and strong capabilities in sustainable finance, Standard Chartered has launched the first ESG structured note issued in Taiwan by the Bank with a $40m ESG structured Formosa note that sold to investors in Taiwan.
This inaugural Formosa note issuance follows a number of other sustainable finance innovations from Standard Chartered over the last few months including a Sustainable Fiduciary deposit offering in the UK, a landmark ESG Islamic repo transaction with a Malaysian bank, and its first Sustainable Export Letter of Credit programme.
The $40m Formosa note, issued by Standard Chartered Bank from its note, certificate and warrant programme, has a 10-year tenor and is callable after three years by the issuer.
Marisa Drew, Chief Sustainability Officer at Standard Chartered, said: “We are committed to finding innovative ways of mobilising capital to help address ESG development challenges in the emerging markets where we operate. This landmark structure does that in an investor-friendly way by providing access to impactful sustainable finance assets.”
Amit Puri, Global Head of Sustainable Finance at Standard Chartered, said: “Only a very small number of sustainability bonds have been issued to support emerging markets in their transition to a low carbon future. Yet it is these very countries that will have a major impact on the world’s ability to meet climate targets. I am really proud to add ESG Formosa notes to our world-leading suite of Sustainable Finance products.”
Ian Anderson, CEO at Standard Chartered Taiwan, added: “As one of the leading international banks in Taiwan, Standard Chartered has printed more than 90 Formosa trades and brought more than 40 foreign issuers to Taiwan. This is another landmark deal for the Bank that reflects our standing as an innovator, and our ambitions in the sustainability space. The issuance helps finance our impactful Sustainable Finance assets including offshore wind assets and green energy projects located here in Taiwan and globally.”
With Standard Chartered’s strong commitment to the Formosa market, this is the 6th issuance by the Bank year to date. E.SUN Bank is co-manager on this transaction.