The Export-Import Bank of Korea Kexim has closed Asia’s first US dollar “green bond”, or climate friendly bond. It is also the first non-supranational to issue such a bond globally.
The Asian Development Bank has previously issued green bonds but those were denominated in other currencies such as Australian dollars, Brazilian real and Turkish lira. So far, green bonds have mostly been issued by supranationals such as The World Bank and International Finance Corp.
The $500 million five-year bond attracted $1.8 billion of demand from more than 100 investors. There are no fixed criteria for what qualifies as a green bond, but Kexim said it will use...
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