CBI member, Clifford Chance has announced that it has advised fellow CBI member, HSBC on the financing of a new and revolutionary plastics recycling facility for Hong Kong.
Clifford Chance advised HSBC on the development, construction, operation and maintenance of Hong Kong’s new polyethylene terephthalate (PET) and high-density polyethylene (HDPE) recycling facility, which will be the first food-grade ready plastics recycling facility in Hong Kong.
The plant is being built in Hong Kong’s ‘EcoPark’ in Tuen Men and financed in accordance with the Green Loan Principles.
The Clifford Chance team was led by partner Vicky Ma, who said “This has been an incredibly exciting transaction to be involved with as our team was able to draw on the firm’s extensive green financing experience. The financing incentivises improved environmental performance and demonstrates Hong Kong’s commitment to pioneering and promoting green finance.”
Clifford Chance is emerging as in industry leader in China in advising on green financing deals, following the successful issuance of the first ever green covered bonds from a Chinese bank in 2016, and on five tranche multi-currency green bonds that were worth over $3 billion, on behalf of Bank of China.
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