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A&O awarded ESG deal of the year for first blue bond in Asia

Allen & Overy has been awarded ‘ESG Deal of the Year’ at the IFLR Asia-Pacific Awards 2021 for their work on the first blue bond issued in Asia. 

A&O advised the joint lead managers and joint bookrunners on the inaugural dual-currency blue bond offering by Bank of China Limited, Paris Branch and Bank of China Limited, Macau Branch. This marks the first blue bond issued by a commercial bank.  

This landmark transaction comprises USD500 million 0.95% bonds due 2023 and CNY3 billion 3.15% bonds due 2022. Both blue bond offerings are issued under Bank of China Limited’s USD40 billion MTN programme and are aligned with the Green Bond Principles (2018) published by the International Capital Market Association. 

The A&O team was co-led by partners Jaclyn Yeap and Agnes Tsang, with support from Alan Zhang, Susan Zhang and Rachel Cheung.

Matthew Townsend, partner and Global Co-Head Environment, Climate and Regulatory Law, commented: “This transaction was made possible thanks to the depth and breadth of knowledge our teams have in sustainable finance. We are delighted to have won this award and proud that we were able to support our clients on such a landmark deal.” 


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