(May 19): China is seeking to raise as much as six billion yuan (US$882 million or $1.1 billion) in a green sovereign bond sale in Hong Kong next week, as the nation continues to build its presence in offshore debt markets and aims to fund climate action.
The offering, which would be China’s first-ever green sovereign note in the city, will take place during the week of May 25, the Ministry of Finance said in an announcement Tuesday. Specific details will be released ahead of the launch, the ministry said.
China sold its debut offshore yuan-denominated green sovereign bond in London in April last year, which raised six billion yuan to fund activities including cutting greenhouse gas emissions, biodiversity preservation and pollution control. Officials have been working with investment banks on a potential further issuance in London that could take place in the second half, people familiar with the matter said last month.
In a March report, the finance ministry said it would “continue to issue sovereign green bonds to attract international capital to support our domestic green, low-carbon development.”
Uploaded by Magessan Varatharaja
