Agricultural Bank of China underwrites first green and poverty-alleviation DFI

On the 26th, China Longyuan Power Group Corporation Limited issued the first phase of super short-term commercial paper for poverty alleviation, which is the first green and poverty alleviation debt financing instruments in China and is underwritten by the Agricultural Bank of China.

On the 26th, China Longyuan Power Group Corporation Limited issued the first phase of super short-term commercial paper for poverty alleviation, which is the first green and poverty alleviation debt financing instruments in China and is underwritten by the Agricultural Bank of China.

The current bond issuance is 500 million yuan, with a maturity of 270 days and a coupon rate of 2.60%. All the funds raised will be used for clean energy wind power projects.

Parts of funds are channeled to the project construction of Weining Yi and Hui and Miao Autonomous County of Guizhou Province, and have been certified by a third-party professional institutions and recognized by traders’ associations.

In recent years, the Agricultural Bank of China has continuously increased its support in the fields of green and poverty alleviation, underwriting for 32 issuances of green bonds and poverty alleviation bills, and raising a total of 199.2 billion yuan.

Among them, 3 billion yuan of green medium-term notes were issued for the Three Gorges Group in 2018, which is the largest green debt financing instrument in the market, while 1.5 billion yuan of green medium-term notes was issued for the Beijing Capital International Airport in 2019. It is the first green debt financing instrument for airport in the market.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/07/agricultural-bank-of-china-underwrites-first-green-and-poverty-alleviation-dfi/.

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