Recently, Bank of China held a listing ceremony on the London Stock Exchange for its dual-currency (GBP and RMB) sustainable development bonds. The issuance includes £250 million in three-year bonds and RMB1.5 billion in three-year bonds. The GBP bonds are the first GBP-denominated sustainable development bonds issued by a Chinese institution in the market.
The successful listing of this dual-currency sustainable development bond is a practical step in implementing the outcomes of the 11th China-UK Economic and Financial Dialogue. The bond attracted widespread attention and active subscription from high-quality investors worldwide, demonstrating the international capital market's strong affirmation of Chinese sustainable development bonds. This issuance sets a new benchmark for Chinese institutions conducting international sustainable financing and further enriches the London Stock Exchange's green finance product portfolio.
In recent years, Bank of China has continuously promoted the deployment of green and sustainable financial products in the international capital market, providing long-term and stable support for sustainable development financing both locally and globally.
In 2016, Bank of China successfully issued its first Chinese green asset-backed bond worth US$500 million and listed it on the London Stock Exchange, marking the beginning of its exploration of offshore green finance business in London.
In 2021, Bank of China innovatively issued the world's first relinked sustainability bond, and simultaneously listed the bond, along with five other existing sustainability bonds from other markets totaling US$2.2 billion, on the London Stock Exchange. The product types include blue bonds, transformation bonds, and biodiversity bonds.
In 2023, Bank of China successfully issued US$600 million in green bonds, using all the proceeds for the first time to support benchmark green credit projects in countries such as the UK, France, and the Netherlands. This enriched the supply of offshore green and sustainable financial products and enhanced the influence of Chinese institutions in the international green finance field.
Bank of China will continue to leverage its global advantages and comprehensive characteristics to actively serve global climate governance and sustainable development, and contribute even more to building a green, inclusive, and sustainable financial ecosystem.
