The 5.95% bonds are due 2026

Davis Polk advised the joint lead managers in connection with a Regulation S offering of $400 million 5.950% sustainability-linked bonds due 2026 by Sunny Optical Technology (Group) Company Limited. The bonds were issued in accordance with the company’s sustainability-linked financing framework. The company is committed to reducing Scope 1 and 2 GHG emissions intensity (in million RMB revenue) by 20% by 2025 compared to the 2021 baseline. The company is subject to maturity premium under the terms and conditions of the bonds should any of the trigger events take place.

Sunny Optical Technology (Group) Company Limited is a global integrated optical components and products manufacturer. It was listed on the main board of the Stock Exchange of Hong Kong Limited in 2007 and became a component of the Hang Seng Index in 2017.

The Davis Polk corporate team included partners Gerhard Radtke and James C. Lin, counsel Bingqing Pan, counsel – registered foreign lawyers Jennifer Liu and Jennifer (Yujia) Jiang and registered foreign lawyers Moran Zhang, Sean Su and Anlei Zuo. Members of the Davis Polk team are based in the Hong Kong office.