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

©Bosideng

DBS Bank (Hong Kong) signed a USD35 million sustainability-linked loan for Bosideng, a globally leading Chinese down apparel retailer, which 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 Chinese consumers. It is also a forerunner in sustainable fashion with a MSCI corporate ESG rating of BBB.

©Bosideng

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 up 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.

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.

©DBS Bank (Hong Kong)