China Eximbank issues CNY 1bn of green bonds

Chinese currency. Author: faungg's photos. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

December 21 (SeeNews) - The Export–Import Bank of China, also known as China Exim Bank, said on Monday it has issued CNY 1 billion (USD 144m/EUR 138m) worth of green bonds that were “highly recognized by investors”.

This is the first time that a policy bank in China issues a green bond, the lender said in a statement. It added that the final issuing interest rate was set at 3.28%, which is slightly below the market average. The bonds have a term of five years.

The proceeds from the issuance will be used to help reduce the fundraising cost of green energy enterprises. The bank added that various measures will be taken to save energy and facilitate a reform on the ways that energy is produced and consumed.

China Eximbank said it will continue with more green bond issues and will also provide more policy financing to green industries.

(CNY 10 = USD 1.439/EUR 1.383)

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