Bank of China issues first ever biodiversity-themed green bonds out of Asia
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Bank of China Limited, Macau Branch’s issuance marks the first ever biodiversity-themed green bonds offering by an Asian issuer, and the first to be issued by a financial institution issuer globally. This dual-tranche transaction comprises MOP1 billion 0.6% bonds due 2023 and CNY1bn 2.75% bonds due 2023. The proceeds will be used to finance and/or refinance biodiversity-related eligible green projects, under eligible categories such as terrestrial and aquatic biodiversity conservation and environmentally sustainable management of living natural resources and land use.
Separately, Bank of China Limited, acting through its Sydney Branch, has issued USD300 million 0.75% green bonds due 2024, marking its first ever green bond issuance. The proceeds will be used to finance and/or refinance the eligible green projects located in Australia, under eligible categories such as renewable energy and green buildings.
The bonds are issued under Bank of China Limited’s USD40bn MTN programme and in accordance with the Green Bond Principles 2021 published by the International Capital Market Association.
The team comprised partners Jaclyn Yeap and Agnes Tsang, with support from Alan Zhang, Evelyn Zhu, Rey Zhu and Rachel Cheung.
We are proud to have supported Bank of China on its leadership in shaping the sustainable finance landscape across Asia Pacific. Our involvement in this transaction follows our advice on Bank of China Limited, Hong Kong Branch’s first climate transition bond issuance in January 2021, Bank of China’s first blue bond issuance in September 2020, Bank of China Limited, Macau Branch’s small and medium enterprises themed (COVID-19 Impact Alleviation) social bonds issuance in March 2020, and Bank of China Limited, Macau Branch’s issuance of the first SOFR-based bonds in Asia and first green bonds in Macau in October 2019.