Bank of China recently held a listing ceremony for its dual-currency sustainability bonds in both British pounds and Chinese yuan on the London Stock Exchange. The issuance includes a three-year £250 million bond and a three-year RMB 1.5 billion bond. Notably, the pound-denominated bond marks the first sustainability bond issued by a Chinese financial institution in the British currency.
The successful listing of these dual-currency sustainability bonds represents a concrete step in implementing the outcomes of the 11th China-UK Economic and Financial Dialogue. The bonds attracted strong interest and active subscription from global high-quality investors, reflecting international capital markets' confidence in Chinese sustainability bonds. This issuance sets a new benchmark for Chinese institutions in international sustainable financing and further enriches the London Stock Exchange's green finance product offerings.
In recent years, Bank of China has actively expanded its green and sustainable finance products in international capital markets, providing long-term, stable support for local and global sustainable development financing.
Key milestones include: - **2016**: Bank of China issued the first $500 million Chinese green asset-backed bond listed on the London Stock Exchange, pioneering offshore green finance initiatives. - **2021**: The bank innovatively launched the world’s first re-linked sustainability bond and listed $2.2 billion in sustainability-linked bonds, including blue bonds, transition bonds, and biodiversity bonds, alongside existing bonds from other markets. - **2023**: Bank of China successfully issued $600 million in green bonds, allocating all proceeds to support landmark green credit projects in the UK, France, the Netherlands, and other countries, enhancing offshore green and sustainable finance offerings and strengthening Chinese institutions' influence in global green finance.
Bank of China will continue leveraging its global presence and integrated services to support global climate governance and sustainable development, contributing to a greener, more inclusive, and sustainable financial ecosystem.
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