By Karry Lai, Asia
The world’s largest bank, Industrial and
Commercial Bank of China (ICBC) has sold the biggest single
tranche euro-denominated green bond ever listed by a Chinese
The $2.15 billion Belt and Road climate bond was listed
offshore, on October 30, on the Luxembourg Stock Exchange, and
comprised three tranches: a €1.1 billion ($1.28 billion)
tranche, and two US dollar tranches worth a combined $850
million. The first two had tenors of three years, and the
latter five years. The issuer was the Luxembourg branch of the
The deal is ICBC’s first green security using
its own green bond framework, which takes inspiration from a
number of sources. This makes the bond the first one compliant
with Chinese and global green standards.
"The bonds were structured...