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 theWorld Bank’s Climate Bonds Initiative (CBI). It will be also added to the newly-launched Carbon Neutral Bond Index of Shanghai Clearing House.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.