Bowsprit Partners lists 1st Green Bond
Bowsprit Partners advised Biotech Listings Ltd., the UK SPV of Bio Tech Plantations Management Sdn Bhd, a Malaysian company active in the development and management of agroforestry and agricultural plantations, in connection with the structuring of a Green Bond.
Bowsprit Partners successfully led the advisory team for the structuring and issuance of this EUR 20,000,000 Green Bond with a 10-year maturity and a fixed coupon of 7.5%.
Biotech Listings commissioned one of the world’s leading rating agencies in the field of sustainable investment to conduct an independent Second Party Opinion (“SPO”) assessment. The SPO process includes verifying whether the Green Bond Framework aligns with the Green Bond Principles administered by the International Capital Market Association (“ICMA”), assessing the sustainability credentials of the Green Bond and the use of proceeds, as well as the issuer’s sustainability strategy.
As a result of the positive SPO assessment (the activities of the business are in line with Sustainable Development Goals 2 (Zero Hunger), 12 (Responsible Consumption and Production) and 13 (Climate Action) of the United Nations 2030 Agenda), the notes were admitted on the ESG segment of the Vienna MTF on the 30th of May 2022.
The issue will finance three coconut plantation sites in Malaysia, as well as the development of the company’s brand and production facilities to manufacture coconut products for the local and international market.
The Bowsprit Partners team that assisted Biotech Listings, led by Head of Operations Luis Brime Berdugo, expressed great satisfaction for this transaction: ”We are honoured to be part of this transaction, which marks an important milestone for our firm and testifies to Bowsprit Partner’s commitment with environmentally friendly, purpose driven and sustainable projects. Advising an inspiring company like Biotech Listings on its fundraising strategy and supporting the arrangement and placing of its green products is a great opportunity to make a real contribution in the global fight against climate change. We would like to thank the company for the trust placed in us.”