Greater Bay Area

ICBC’s debut GBA green bond shows regional aspirations

China's largest lender has sold the first green bond dedicated to green development in the Greater Bay Area. Similar bonds are expected in the future.

Industrial Commercial Bank of China reaffirmed its commitment to the Guangdong-Hong Kong-Macau Greater Bay Area GBA by issuing, on Tuesday, the first ever green bond dedicated to the development of the new economic and business hub in southern China.

The world’s largest bank by market capitalisation has come up with a triple currency, five tranche deal to meet both the diversified funding needs for GBA companies and demands from fixed income investors. The new bond was issued through its Hong Kong branch.

Apart from a two-year Hong Kong dollar fixed rate tranche and a one-year fixed rate denominated in offshore Renminbi CNH, the green bond also...

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