China launched the sale of 6 billion yuan (US$886 million) of green sovereign bonds in Hong Kong late on Thursday night, the first such sale in the city, as Beijing continues to build its presence in offshore debt markets and seeks ways to fund climate action.
The response was good, indicating international market confidence, said HSBC Holdings, a joint lead manager and joint bookrunner of the bond issuance.
The strong response came as central banks globally had been increasing the share of yuan in their reserve portfolios, it said.
The Ministry of Finance is selling two tranches of the green bonds maturing in three and five years, with each being worth 3 billion yuan.
The short-dated bond matures on June 4, 2029, and the longer one on June 4, 2031.
