DBS Hong Kong and Bosideng complete USD35 million sustainability-linked loan | 繁體

Hong Kong, 25 Aug 2022 - DBS Bank (Hong Kong) Limited is pleased to announce the signing of the USD35 million sustainability-linked loan for Bosideng International Holdings Limited (“Bosideng”) (Stock Code: 3998), a globally leading Chinese down apparel retailer. This marks the first sustainability-linked loan for Bosideng as well as the largest loan of its kind in Asia.

As a prominent down jacket expert for 46 years, Bosideng is well recognised by consumers. It is also a forerunner in sustainable fashion with a MSCI corporate ESG rating of BBB. 

The bilateral loan from DBS Hong Kong provides working capital for the ongoing operations of Bosideng subject to the fulfilment of responsible procurement KPIs during the one-year tenor. 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.

Gao Dekang, Chairman and President of Bosideng International Holdings Limited, stated: “As a responsible company, Bosideng will take active steps towards the implementation of China’s ‘Dual Carbon’ goals and sustainable development. We will work with all parties to continue on our path of sustainable growth and green development of the supply chain with the aim to achieve a sustainable low-carbon future.”

Mr Alex Cheung, Managing Director and Head of Institutional Banking Group of DBS Hong Kong, added, “DBS Hong Kong has long championed sustainability-linked financing as a means of advancing the responsible business goals of our clients. We are proud to support Bosideng as it achieves a new milestone in its sustainable journey.”

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About DBS 

DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 13 consecutive years from 2009 to 2021.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.