First overseas green bond issued by Chinese Leasing company

On November 13, 2019, ICBC Leasing successfully issued 600 million US dollars of overseas green bonds, which is the first green bond by a Chinese leasing company in the international capital market.

On November 13, 2019, ICBC Leasing successfully issued 600 million US dollars of overseas green bonds, which is the first green bond by a Chinese leasing company in the international capital market.

The funds raised will be used to promote qualified green assets with significant performance of environmental sustainability and climate change benefits for the promotion of a low-carbon and sustainable economy.

Before this issuance, the company’s green financing framework has obtained the Green Finance Certification from Hong Kong Quality Assurance Agency.

The green bond, with a size of US $600 million, has been favored by green investors in Asia and Europe, with non-bank investors accounting for 35%, more than 5 times oversubscribed, fully reflecting the high recognition from institutional investors.

The final pricing rate set a new low record among Chinese leasing companies in the same year.

As the first leasing company belongs to a bank, ICBC Leasing aims to build a world-class leasing company and actively implement the concept of green finance.

The company’s investment areas include renewable energy, low-carbon and low-emission transportation, energy efficiency, sustainable water resources and wastewater management.

As of the first quarter of 2019, the company’s stock of green assets exceeded $3.5 billion.

ICBC Leasing, as a wholly-owned subsidiary of ICBC, will further give full play to the characteristics of leasing business and combine with the green credit construction of ICBC Group to serve the real economy and develop green leasing.

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/first-overseas-green-bond-issued-by-chinese-leasing-company/.

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