Bank of Ganzhou issues first phase of green bonds in 2020

On April 21, Bank of Ganzhou issued the first phase of green financial bonds in 2020, with an issuance scale of 1.5 billion yuan, a maturity of 3 years, and a coupon rate of 3%.
In response to national policies and support for the development of local green industries, in 2019, the Bank of Ganzhou initiated the issuance of green financial bonds.

On April 21, Bank of Ganzhou issued the first phase of green financial bonds in 2020, with an issuance scale of 1.5 billion yuan, a maturity of 3 years, and a coupon rate of 3%.

In response to national policies and support for the development of local green industries, in 2019, the Bank of Ganzhou initiated the issuance of green financial bonds.

With the approval of the Central Bank and the Banking and Insurance Supervision Department, the total amount of green financial bonds issued by Bank of Ganzhou is RMB 3 billion.

The issuance of green financial bonds of Bank of Ganzhou has achieved good response in the market.

Bookmakers on the day of the bookkeeping were active in bidding, with a total effective bid of 6.645 billion yuan, a total court multiple of 4.43 times, and a margin multiple of 4.97 times.

The interest rate for the issuance of financial bonds by commercial banks is at a new low record.

The Bank of Ganzhou will use this green financial bond issuance as an opportunity to increase green credit distribution, strengthen its green financial business layout, make good use of real green financial bonds to raise funds.

It will invest funds mainly in new energy vehicles, sewage treatment, solar power generation, and waste recycling. The construction of green projects such as recycling of resources, manufacturing of electromechanical products, and production of organic products for agriculture, animal husbandry and fishery, and will effectively serve the development of Ganzhou ’s green economy.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/27/bank-of-ganzhou-issues-first-phase-of-green-bonds-in-2020/.

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