ICBC HK branch completes pricing for GBA-themed multi-currency green bonds

On September 9, the Hong Kong Branch of the Industrial and Commercial Bank of China (ICBC) successfully completed the pricing of the first Guangdong-Hong Kong-Macau Greater Bay Area (GBA) concept green bond within the ICBC Group.

On September 9, the Hong Kong Branch of the Industrial and Commercial Bank of China (ICBC) successfully completed the pricing of the first Guangdong-Hong Kong-Macau Greater Bay Area (GBA) concept green bond within the ICBC Group.

The issuance includes US dollars, Hong Kong dollars and RMB, with a total amount of about US $3.15 billion. The funds raised will be mainly invested in Guangdong-Hong Kong-Macau Greater Bay Area’s clean transportation and renewable energy green assets, radiating many cities in the Greater Bay area.

This issuance includes US $1 billion 3-year floating rate, US $500 million 3-year fixed rate, US $1 billion 5-year floating rate, HK $4 billion 2-year fixed rate and 1 billion RMB 1-year fixed rate, all of which are priced better than the average market level. The final orders are oversubscribed.

This green bond issue makes full use of domestic and foreign market resources, further enhances ICBC’s cross-regional and cross-currency financing capacity, and helps to promote Guangdong-Hong Kong-Macau Greater Bay Area’s financial integration and green development.

In recent years, ICBC has actively supported Guangdong-Hong Kong-Macau Greater Bay Area’s construction and promoted the interconnection of logistics, capital flow and information flow in the Greater Bay Area through active financial innovation, and strive to provide customers in the Greater Bay area with comprehensive cross-border financial services with “one point access and global response”.

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/icbc-hk-branch-completes-pricing-for-gba-themed-multi-currency-green-bonds/.

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