China Launches $885M Green Bond Sale in Hong Kong
China Launches Green Bond Sale in Hong Kong
China has launched a sale of up to 6 billion yuan ($885.1 million) in three-year and five-year yuan-denominated green bonds in Hong Kong, according to a term sheet and a note seen by Reuters. Combined orders exceeded 39 billion yuan ($5.75 billion).
Bond Details
Initial price guidance was set at around 1.85% for the three-year bond and around 2.00% for the five-year bond. Proceeds will fund or refinance green spending under China's sovereign green bond framework.
Timing and Managers
The bonds are expected to price as early as Thursday and settle on June 4. Joint lead managers include Bank of China, HSBC, Barclays, and Standard Chartered among others.
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