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A&O advises the Hong Kong Government on its first green bond issuance

 

29 May 2019

​Allen & Overy has advised the Government of the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR) in connection with its USD1 billion green bond issuance. This is the first issuance under the government’s HKD100 billion green bond programme.

The bonds will be listed on both the Hong Kong Stock Exchange and the London Stock Exchange’s regulated market, and were offered in a combined 144A/Regulation S transaction to institutional investors internationally. Under the HKSAR Government’s Green Bond Framework, the proceeds from the issuance will be used to fund the city’s public works projects that provide environmental benefits and support the sustainable development of Hong Kong. 
 
Hong Kong’s Government Green Bond Programme, which is one of the world’s largest, demonstrates the government’s determination to promote sustainable development and combat climate change, and reinforces Hong Kong’s position as the regional hub for bond issuance.
 
Partner Agnes Tsang commented: “We are extremely honored to be part of Hong Kong’s green finance development. With the strong support from the government, we can expect more green bonds to be arranged and issued in Hong Kong.”
 
Of Counsel Jaclyn Yeap added: “This underscores our strengths in sovereign bond and green bond issuances. We share with the government a mutual goal of boosting the city’s bond market and a mutual commitment to green finance.”
 
The Allen & Overy team was led by partner Agnes Tsang and of counsel Jaclyn Yeap, with support from lawyers Tiffany Tse and Catherine Wong and trainee solicitor Charles Chiu. Singapore-based partner Alex Stathopoulos advised on the New York law aspects of the transaction.
ENDS  
 
For further information, please contact Madhu Mirpuri (madhu.mirpuri@allenovery.com) on +852 2974 7737.
 
Notes for Editors:
  1. The information contained herein is restricted and is not for publication, distribution or release in or into the United States of America, Australia, Canada, Japan or South Africa. This announcement is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States or any other jurisdiction. The securities referred to herein (the "Securities") have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not, subject to certain exceptions, be offered or sold in the United States or to or for the account or benefit of a person located in the United States.
  2. Allen & Overy is an international legal practice with approximately 5,500 people, including some 550 partners, working in more than 40 offices worldwide.
  3. In this press release 'Allen & Overy' means Allen & Overy LLP and/or its affiliated undertakings.
  4. The term 'partner’ is used to refer to a member of Allen & Overy LLP or an employee or consultant with equivalent standing and qualifications or an individual with equivalent status in one of Allen & Overy LLP’s affiliated undertakings.
 

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