Centara Issues First Sustainability-Linked Bond Amidst Booming Demand in Asia

Centara Hotels & Resorts, Thailand's leading hotel operator, has announced the issuance of its first Sustainability-Linked Bond (SLB), marking a major milestone in the company's commitment to environmental, social, and governance (ESG) excellence.

The 1 billion Baht, 5-year bond, arranged by UOB, links financing costs directly to Centara's performance on two key sustainability performance targets (SPTs):

1. Reducing greenhouse gas (GHG) emission intensity in its hotel operations; and,
2. Reducing water consumption intensity across its properties.

This innovative bond issuance reflects Centara's dedication to integrating sustainability into its business practices while actively contributing to the global push toward a low-carbon future.

"Our first sustainability-linked bond reinforces our commitment to a more sustainable hospitality industry," said Gun Srisompong, Chief Financial Officer and Vice President - Finance and Administration of Centara Hotels & Resorts. "By embedding ESG principles into our financing framework, we're not only accelerating our efforts to reduce our environmental impact but also setting measurable goals that drive accountability and progress."

Centara's SLB aligns with the company's broader sustainability strategy, which includes eliminating single-use plastics across all properties, achieving Global Sustainable Tourism Council (GSTC) certification for every property by 2025, reducing energy consumption and GHG emissions by 40% by 2029, with a long-term goal of achieving net-zero emissions by 2050.

The bond, which will be issued on 11 December 2024, is offered to institutional investors (II) and high-net-worth individuals (HNW), reflecting strong market confidence in Centara's sustainability-driven vision. Aligned with the Sustainability-Linked Bond Principles (SLBP) set by the International Capital Market Association (ICMA), this issuance ensures adherence to global standards for sustainable finance.

Centara's commitment to sustainability underscores its goals of becoming a leader in sustainable hospitality and a Top 100 Global Hotel Operator by 2027. For more information about Centara Hotels & Resorts' sustainability initiatives, please visit https://www.centarahotelsresorts.com/sustainability

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