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SocGen gets Taiwan's nod to issue NT$1.6B in green bonds

Société Générale SA on Oct. 10 issued NT$1.6 billion worth of green bonds, making it the first foreign bank to issue positive impact bonds in Taiwan in the local currency.

The issuance, which was approved by Taiwan's Financial Supervisory Commission, is divided into three tranches: a five-year NT$900 million bond, a 10-year NT$500 million bond, and a 15-year NT$200 million bond, at coupon rates of 0.85%, 1.12% and 1.63%, respectively.

Proceeds from the bonds will be used to fund renewable energy projects in Taiwan, including the Formosa 1 Offshore Wind Project, according to a release.

As of Oct. 12, US$1 was equivalent to NT$30.89.