China Development Bank (CDB) last week issued its inaugural green bond, worth CNY 20 billion (USD 3.07bn/EUR 2.58bn), seeking to raise funds for renewable energy projects promoting de-carbonisation.
The deal was announced on Thursday by domestic investment bank China International Capital Corporation (CICC) which acted as the lead underwriter. The placing will enable CDB to raise funds for renewable energy projects such as wind and solar schemes that promote de-carbonisation in the power system and transform the energy industry.
The three-year bond bears a coupon rate of 3.07%. It was offered among global investors through the Bond Connect investment platform.
The bond is assumed to be the largest green bond dedicated to supporting carbon peaking and carbon neutrality targets. Being the first “carbon neutral” green bond, it was certified by the World Bank’s Climate Bonds Initiative (CBI).
It will be also added to the newly-launched Carbon Neutral Bond Index of Shanghai Clearing House.
Source Renewables Now