ICBC leads the market in innovative green bond issuance in 2019

In 2019, ICBC underwrote more than 1800 domestic bonds as a lead underwriter, with an underwriting amount of 1.52 trillion yuan, providing strong financial support for the real economy.

In 2019, ICBC underwrote more than 1800 domestic bonds as a lead underwriter, with an underwriting amount of 1.52 trillion yuan, providing strong financial support for the real economy.

As an important part of the direct financing system, bond financing is an important way to provide financial support and service supply-side structural reform for enterprises.

According to ICBC, ICBC’s bond underwriting ranks first in the market for 13 years in a row.

In terms of bond types, ICBC underwrites local government bonds, non-financial corporate credit bonds, financial bonds and other bonds in 2019. It not only provides comprehensive services for different types of bond-issuing clients, but also provides a wealth of investment options for market investors.

In 2019, ICBC underwrote more than 660 billion yuan of local government bonds, including more than 410 billion yuan of special bonds, supporting the infrastructure construction of transportation, medical and healthcare and other livelihood projects.

In 2019, ICBC acted as the lead underwriters for 498 credit bonds for 323 non-financial enterprises, with a main underwriting scale of more than 540 billion yuan. In the main underwriting non-financial corporate debt financing instruments, the proportion of AAA rating reached 93%, more than 20 percentage points higher than the market average.

In 2019, ICBC underwrote 39 private enterprise bonds, raising 34 billion yuan.

At the same time, it is the first among large domestic banks to create and invest into Credit Risk Mitigation Warrant that is linked to private enterprise bonds, to guide diversified funds to invest in private enterprise bonds. A total of 3 CRMWs have been created in 2019.

In 2019, ICBC issued the world’s first green inter-bank regular cooperative bonds for Belt and Road Initiative, covering RMB, US dollars and euros, to raise funds to support the construction of the Belt and Road Initiative’s green projects.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/05/icbc-leads-the-market-in-innovative-green-bond-issuance-in-2019/.

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