ICBC celebrates green bond listing in Luxembourg NADER GHAVAMI

ICBC celebrates green bond listing in Luxembourg NADER GHAVAMI

China marked the listing of its €3bn-equivalent carbon neutral-themed green bond on the Luxembourg Stock Exchange in a ‘ring-the-bell’ ceremony on Thursday, underscoring Luxembourg’s key role as a hub for green financing on the international stage.

The €3bn-equivalent multicurrency bond, issued by the Industrial and Commercial Bank of China, is listed on the LuxSE and also displayed on Luxembourg’s platform for sustainable finance, the Luxembourg Green Exchange, according to a press release from the LuxSE. The five-tranche transaction, denominated in Euro, Sterling, US dollar and Moss Coin will finance renewable energy, clean transportation, energy efficiency and sustainable water projects in China, ICBC said in the same release.

“Reaching carbon neutrality must be a key priority for all nations of the world, and we are proud to support ICBC in its efforts to unlocking financing to contribute to China’s climate commitments,” said Julie Becker, CEO of LuxSE.

The bonds are listed across the Hong Kong Stock Exchange, the Singapore Stock Exchange, LuxSE (EuroMTF Market and the Securities Official List), London Stock Exchange (International Securities Market), as well as the Chongwa (Macao) Financial Asset Exchange, a separate release from law firm Allen & Overy, who advised the joint lead managers and joint bookrunners in connection with the multi-branch issuance, stated.

ICBC was the first Chinese bank to be admitted as a trading member to the LuxSE and in 2017, ICBC brought its inaugural Belt and Road green bond to the exchange.