To: All Finance/Business/Travel Editors

FOR IMMEDIATE RELEASE                                                                                                         20 October 2022


Hong Kong, 20 October 2022 – The Hongkong and Shanghai Hotels, Limited (HSH) is delighted to announce that its wholly-owned subsidiary, HSH Financial Services Limited, has signed a new GBP£675 million (HK$5.95 billion) three-year term green loan facility with a group of nine banks, with The Hongkong and Shanghai Banking Corporation Limited (HSBC) as the Green Loan advisor, to refinance its existing GBP 650m club loan. The facility, which matures in 2025, will continue to fund the construction and operating cost of The Peninsula London project.

The new club loan consists of nine arrangers, including DBS Bank (Hong Kong) Limited, Bank of China (Hong Kong) Limited, Oversea-Chinese Banking Corporation Limited (incorporated in Singapore with limited liability), United Overseas Bank Limited (incorporated in Singapore with limited liability), Hang Seng Bank Limited, Fubon Bank (Hong Kong) Limited, The Hongkong and Shanghai Banking Corporation Limited, The Bank of East Asia, Limited, and Sumitomo Mitsui Banking Corporation (incorporated in Japan with limited liability).

The loan is classified as green loan under HSH’s Green Financing Framework, which is aligned with 2021 Green Loan Principles and Guidance on Green Loan Principles jointly published by the Asia Pacific Loan Market Association (APLMA), the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA). The HSH’s Green Financing Framework indicates how the group will fund projects to deliver positive environmental impact and foster sustainable practice in support of the group’s green and sustainability strategy.

Commenting on the refinancing, Mr. Clement Kwok, Managing Director and Chief Executive Officer of HSH said: “We are pleased to have successfully refinanced our existing club loan with a larger group of nine banks, which highlights the continued market confidence in HSH and the magnificent property which we are developing in London, comprising The Peninsula London hotel and The Peninsula Residences London. The green loan facility reflects our commitment to building a sustainable future as set out in Sustainable Luxury Vision 2030, as we seek to integrate sustainability in all aspects of our business, and to improve the lives of our people, our guests and the communities in which we operate. We look forward to continuing to work together with our banking partners to explore ways to create more sustainable finance and create long-term value for our stakeholders.”

Speaking about The Peninsula London project, Mr Kwok added: “London is one of the world’s most dynamic and vibrant cities, with a unique energy and culture, and we believe it has a most exciting future. The Peninsula London hotel and residences will set new standards in luxury and service and we believe they will be the finest in the London market when completed.”

The project site for The Peninsula London is in a spectacular location overlooking Hyde Park Corner and the Wellington Arch, and will comprise a 190-room hotel and 25 luxury Peninsula-branded residential apartments, with opening currently scheduled for 2023.

(From left to right) Mr. Kelvin AU, General Manager and Head of Wholesale Banking Division, The Bank of East Asia; Ms. Jillian HUEN, Executive Director & Head, Global Funds & Financial Sponsors – North East Asia, Wholesale Banking, United Overseas Bank; Ms. Shirley LAI, Senior Vice President & Head of Corporate Banking Division, Fubon Bank (Hong Kong); Mr. Wallace LAM, Managing Director – Deputy Head of Institutional Bank Group, Hong Kong, DBS Bank; Mr. Jonathan DREW – Head of Global Banking Sustainability, Asia Pacific, HSBC; Mr. Clement KWOK, Managing Director and Chief Executive Officer of HSH; Mr. Chris IP, Chief Financial Officer of HSH; Ms. Ying LU, General Manager, Global Corporate Banking Department, Bank of China (Hong Kong) Limited; Mr. Johnny WEI, Head, Wholesale Banking, OCBC Bank; Ms. Rose CHO, Head of Global Banking, Hang Seng Bank; Mr. Luke LEE,General Manager of Corporate Banking,Sumitomo Mitsui Banking Corporation Hong Kong branch

About The Hongkong and Shanghai Hotels

Incorporated in 1866 and listed on the Hong Kong Stock Exchange (00045), The Hongkong and Shanghai Hotels, Limited is the holding company of a Group which is engaged in the ownership, development, and management of prestigious hotels and commercial and residential properties in key locations in Asia, the United States and Europe, as well as the provision of tourism and leisure, club management and other services. The Peninsula Hotels portfolio comprises The Peninsula Hong Kong, The Peninsula Shanghai, The Peninsula Beijing, The Peninsula Tokyo, The Peninsula New York, The Peninsula Chicago, The Peninsula Beverly Hills, The Peninsula Paris, The Peninsula Bangkok and The Peninsula Manila. Projects under development include The Peninsula London and The Peninsula Istanbul. The property portfolio of the Group includes The Repulse Bay Complex, The Peak Tower and St. John’s Building in Hong Kong; The Landmark in Ho Chi Minh City, Vietnam and 21 avenue Kléber in Paris, France. The clubs and services portfolio of the Group includes The Peak Tram in Hong Kong; Quail Lodge & Golf Club in Carmel, California; Peninsula Clubs and Consultancy Services, Peninsula Merchandising, and Tai Pan Laundry in Hong Kong.

For media enquiries:

Lynne Mulholland General Manager, Group Corporate Affairs Tel: +85228407152 Mobile +85267188219 Lilian Lau Senior Manager, Corporate Affairs Tel: +8522840 7743 Email :