Champion REIT enters sustainability swap with DBS Hong Kong, Business News
HONG KONG, October 6, 2021 – (ACN Newswire) – Champion Real Estate Investment Trust (“Champion REIT” or “Trust”) (stock code: 2778), owner of Three Garden Road and Langham Place, has reached an agreement regarding transaction currency exchange (the “Swap”) with DBS Hong Kong (“DBS”). This derivative transaction is a sustainability swap, which closed in September 2021. It is designed to provide hedging against potential interest rate or currency risks associated with the Trust’s debt portfolio.
Champion REIT values sustainable development and is dedicated to promoting community diversity and inclusion. This rationale is in line with the philosophy of DBS, which places great emphasis on mobilizing resources to empower women who need support in the community.
As part of this sustainability-related exchange, Champion REIT is eligible for sponsorship from DBS to support their Women’s Empowerment Program – Champion Mothers, provided that Champion REIT can successfully meet the key performance goals related to the empowerment of women. Champion REIT has started this program in partnership with St. James Settlement and his social enterprise, and aims to support mothers who have children with special educational needs (SEN) and who do not have much work experience to free up. their true potential in:
– Providing skills learning workshops and a free pop-up space at Langham Place Mall for these mothers to get a taste of running a business, and
– Establish friendships between these mothers and female colleagues to share points of view on family and work management
The Trust organized various business skills sharing sessions and craft activities for these mothers and female colleagues from August to October. Craft activities include making organic peanut brittles, aroma stones and coin bags, allowing all participants to learn, have fun and grow together. A pop-up store selling products made by participating mothers will launch in Langham Place Mall by the end of 2021.
Champion REIT secured its first sustainability loan from eight banks, including DBS, in June of this year. The sustainability exchange marks another step in the Trust’s sustainability journey and reinforces its commitment to giving back to the community.
About Champion REIT (Stock Code: 2778)
Champion Real Estate Investment Trust is a trust established to own and invest in income producing office and retail properties. The Trust focuses on Class A commercial properties in prime locations. It currently provides investors with direct exposure to nearly 3 million square feet of prime office and retail space. These include two iconic Hong Kong properties, Three Garden Road and Langham Place, as well as a joint venture stake in 66 Shoe Lane in central London. Since 2015, the Trust has been included in the Hang Seng Corporate Sustainability Benchmark of the Hang Seng Indices.
DBS is a leading financial services group in Asia with a presence in 18 markets. Based and listed in Singapore, DBS is present in the three main areas of Asian growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
Recognized for its global leadership, DBS was named “World’s Best Bank” by Euromoney, “World Bank of the Year” by The Banker and “World’s Best Bank” by Global Finance. The bank is at the forefront of using digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and “Most Innovative in Digital Banking” by The Banker. In addition, DBS was awarded the “Asia’s Safest Bank” award by Global Finance for 12 consecutive years from 2009 to 2020.
DBS offers a full range of banking services for individuals, SMEs and businesses. As a bank born and raised in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with its clients and making a positive impact on communities by supporting social enterprises, as it operates the Asian way. It also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and its focus on engaging and empowering its people, DBS presents exciting career opportunities. For more information, please visit https://www.dbs.com.hk/index-zh/default.page.
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