News

Bank of China in green bond bonanza

Bank of China in LondonFixed income instruments issued by Bank of China in London and Hong Kong reveal the growing trend for Asian green bonds. The bank’s London branch priced a $1 billion three-year and five-year floating rate green bond and the Hong Kong branch priced a 3 billion Hong Kong dollar ($382 million) two-year fixed-rate sustainability bond. Issued to raise money for projects such as renewable energy and clean transportation, green bonds are rising in popularity in Asia. Sameer Chopra, an analyst for Bank of America Merrill Lynch, predicts Asian entities will issue $250 billion of green bonds in the next three years and $600 billion over the next five years. “China is expected to make-up nearly half of the issuance,” said the analyst. Bank of America Merrill Lynch acted as green structuring agent, joint global coordinator, joint bookrunner and joint lead manager on the Bank of China issuances. ©2018 funds global asia

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