Weigao GreenBond

active

 Shandong Weigao Group Medical Polymer Company Limited, (“Weigao” or the “company” - http://en.weigaogroup.com/index.php/home/category/index/sc_id/index.php) listed on the Hong Kong Stock Exchange, is a leading manufacturer of single-use medical devices in China.  Weigao is organized into three operating divisions: (i) Single-use consumables (infusion set, syringes, medical needles, blood bags, pre-filling syringes, blood sampling products), (ii) orthopedic products, and (iii) interventional products. Weigao’s manufacturing operations are situated mainly in Weihai, Shandong Province, and in Qionglai, Sichuan Province. Weigao also has a number of other subsidiaries in the group, viz.: Weigao Medical Device; Weigao Orthopedic and Argon Medical (in United States).  IFC is considering an investment in Weigao through a long-term green bond of RMB 1 billion (approx. US$142 million equivalent) for implementation of resource efficiency and environmental protection measures, such as: power optimization with retrofit transformers, wastewater recycling plant and electron beam sterilization (thereby replacing ethylene oxide) across its manufacturing operations (the “project”). The use-of-proceeds of the proposed green bond will be certified against Global Green Bond Principles issued by International Capital Market Association (ICMA). IFC supported previous projects with the company as follows: “Weigao II” in 2014 (https://disclosures.ifc.org/#/projectDetail/ESRS/34313); and “Weigao” in 2006 (https://disclosures.ifc.org/#/projectDetail/ESRS/25099).