EC Healthcare Signs Sustainability-Linked Syndicated Facility, A Ground-breaking Achievement in Hong Kong Healthcare Industry
HONG KONG, May 10, 2023 – (ACN Newswire via SEAPRWire.com) – EC Healthcare (the “Company”, which together with its subsidiaries is referred to as the “Group”, SEHK stock code: 2138), the largest non-hospital medical group in Hong Kong*, is pleased to announce the signing of its first syndicated sustainability-linked loan (“SLL”) with a consortium of 5 banks. The SLL was upsized from an initial target of HK$ 700 million to HK$ 1,000 million, demonstrating relationship banks’ strong support for the Group and reflecting their confidence in the growth potential of the healthcare industry.
This syndicated SLL, comprising of a revolving credit and term loan, is the first-of-its-kind for a healthcare services provider in Hong Kong. It further enhances the Group’s status as a leading industry pioneer and reaffirms the importance of sustainability in the Group’s future growth strategy. The proceeds will be used to support the group’s expansion plans and working capital needs.
The Mandated Lead Arrangers, Bookrunners and Sustainability Coordinators include The Bank of East Asia, Ltd, The Hongkong & Shanghai Banking Corporation Ltd, and DBS Bank Ltd.
SGS Hong Kong Limited, a leading sustainability consultancy firm, acted as ESG consultant on the SLL to ensure that the new environmental and social targets are aligned with the latest internationally recognized market standards.
Ms. Ada Wong, Executive Director, Chief Strategy Officer & Chief Investment Officer of EC Healthcare said, “This SLL marks another important milestone in the Group’s sustainability journey. This transaction recognizes our ongoing ESG efforts and also represents a strong endorsement from the banking community on the Group’s business strategy and future growth ambitions. Additionally, the successful arrangement of SLLs in two consecutive years deepens our leadership in terms of sustainable financing in the healthcare sector and reinforces our commitment to sustainability in the long-term.”
About EC Healthcare
EC Healthcare is Hong Kong’s largest non-hospital medical service provider*, leveraging its core businesses of preventive and precision medicine, and committed to developing medical artificial intelligence by integrating its multi-disciplinary medical services. The move, which is supported by the Group’s high-end branding and quality customer services, is aimed at offering customers safe and effective healthcare and medical services with professionalism. The Group is a constituent stock of the Hang Seng Composite Index and the MSCI Hong Kong Small Cap Index.
The Group principally engages in the provision of one-stop medical and health care services in Greater China. The Group provides a full range of services and products under its well-known brands, including those of its one-stop aesthetic medical solutions provider DR REBORN which has ranked first in Hong Kong by sales for years, a professional hair care center HAIR FOREST, primary care clinics jointly established with health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, General outpatient clinic Tencent Doctorwork, the largest one-stop pain management centre in Hong Kong New York Medical Group, the comprehensive dental centres Bayley & Jackson Dental Surgeons, EC DENTAL CARE and Health and Care Dental Clinic, an advanced diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic PREMIER MEDICAL CENTRE, SPECIALISTS CENTRAL and NEW MEDICAL CENTER, a paediatric centre PRIME CARE, a gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, PathLab Medical Laboratories, Ophthalmology Center EC EYE and EC Veterinary Hospital and Imaging Center.
*According to independent research conducted by Frost and Sullivan in terms of revenue in 2020 and 2021
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