Highlights

• Central Retail issued Thailand’s first Green Bond in the retail and wholesale sector.
• The THB 1 billion Green Bond will fund solar projects producing over 90,000 MWh of clean energy annually.

Central Retail Corporation (CRC) has launched Thailand’s first Green Bond in the retail and wholesale sector.

The company issued a total of THB 7.5 billion in bonds: 1 billion Green Bonds and 6.5 billion conventional bonds.

This has attracted an overwhelming response from institutional investors, with total subscriptions crossing THB 30 billion, or more than four times the planned amount.

Read More: Green Bonds Explained: Definition, Types, Benefits & Risks

The proceeds from the Green Bond will be used to fund renewable energy projects, particularly solar energy installations on the rooftops of Central Department Store, Robinson Department Store, TOPS, Thaiwatsadu, and Robinson Lifestyle Mall.

These installations are likely to generate over 90,000 MWh of electricity annually and reduce around 45,000 tonnes of greenhouse gas emissions each year.

This is all part of CRC’s ReNEW environmental strategy, with the objective of increasing clean energy use and cutting carbon emissions in line with its goal of achieving Net Zero greenhouse gas emissions by 2050.

Meantime, the THB 6.5 billion conventional bonds will be used to repay bank loans, thereby helping CRC manage its finances more efficiently.

Also Read: What Are ESG Bonds? Benefits & Future of Green Investing

The three tranches of bonds — with maturities ranging from three to five years and interest rates between 1.63% and 1.93% — are designed to balance fixed and floating rates. This approach gives CRC more financial flexibility and helps it adapt to changes in interest rates over time.

CRC recognised for its financial stability and sustainability

It holds an AA– credit rating from TRIS Rating with a Stable outlook and continues to be listed in the Dow Jones Sustainability Index (DJSI). The company is ranked among the Top 3 of 466 global retail companies, scoring 84 points, and has appeared in the SET ESG Ratings with an AA rating for four consecutive years.

Mr. Panet Mahankanurak, Chief Financial Officer of Central Retail Corporation Public Company Limited, stated, “CRC’s first Green Bond issuance, together with two tranches of conventional bonds, received an excellent response from investors, with total subscriptions exceeding four times the offering size.

“This significant milestone underscores CRC’s commitment to driving the organisation towards becoming a Retail and Wholesale for All — growing together through the business philosophy of CRC Care.“

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Source: CRC