Skip to content

Bank of China issues first ever biodiversity-themed green bonds out of Asia

Related people
Yeap Jaclyn
Jaclyn Yeap

Partner

Singapore

View profile →

Tsang Agnes
Agnes Tsang

Partner

Hong Kong

View profile →

Zhang Alan
Alan Zhang

Senior Associate

Hong Kong

View profile →

Evelyn Zhu

Registered Foreign Lawyer, NY

Hong Kong

View profile →

30 September 2021

Allen & Overy advised the joint lead managers and joint bookrunners on three landmark green bond issuances by Bank of China, comprising a dual-tranche biodiversity-themed green bond issuance by Bank of China Limited, Macau Branch and the first ever green bond issuance by Bank of China Limited, acting through its Sydney Branch.

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.

 

Disclaimer:

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 shares 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.
 

Related expertise