Foreign bank issues green financial bond in China for first time

File photo shows the exterior view of Shanghai Stock Exchange at Pudong New Area in Shanghai, east China. (Xinhua)

OCBC Wing Hang Bank (China) has issued its 2022 green financial bond with a total scale of 500 million yuan recently, marking the first green financial bond issued by a foreign bank in Chinese domestic market, reported Chinanews.com Tuesday.

The bond credit rating is AAA, which is a 3-year fixed rate variety with a coupon rate of 3.24 percent. In the current market environment, the bond is still nearly 2 times oversubscribed.

To effectively support the development of green finance in China, OCBC Wing Hang Bank (China) began actively preparing for the issuance of green bonds since 2021. The bank will take this issuance as an opportunity to continue to achieve innovation and breakthroughs in the field of green bonds.

Wang Ke, director and CEO of OCBC Wing Hang Bank (China), said that the successful issuance of this green financial bond will not only help OCBC Wing Hang Bank broaden capital replenishment channels and optimize its asset-liability structure, but also support more green industry projects, serve customers with high-quality green credit products, as well as promote the sustainable development of the bank's business.