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CN MOF Debuts RMB Green Sovereign Bonds in HK; HSBC Says Move Helps Establish RMB Pricing Benchmark
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China's Ministry of Finance (MOF) issued RMB green sovereign bonds in Hong Kong for the first time, with a total issuance size of RMB6 billion. The offering comprises RMB3 billion of three-year green sovereign bonds (final pricing at 1.42%) and RMB3 billion of five-year bonds (final pricing at 1.56%). The bonds will be listed on the Hong Kong Stock Exchange. The MOF intends to allocate an amount equivalent to the net proceeds from the sale entirely to eligible green expenditures under the central government budget. David Liao, Co-Chief Executive of Asia and Middle East of HSBC, said the issuance attracted active participation and strong subscription from international investors, fully reflecting global market confidence in China's economic growth potential. The green bond issuance sends a clear message to international investors of China's commitment and continued efforts to advance its green and low-carbon transition. The Outline of the 15th Five-Year Plan states that China will promote RMB internationalization and expand the use of RMB in international trade and investment and financing. The Ministry's offshore RMB sovereign bond issuance will help establish a pricing benchmark for the RMB market, improve the offshore RMB yield curve, and encourage other issuers to expand RMB bond issuance. AASTOCKS Financial News |
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