Industrial & Commercial Bank of China (Asia) Ltd. issued US$731 million of dual-currency multiple-tranche senior unsecured green bonds.
The issuance consists of US$200 million of three-year floating rate green bonds with an annual coupon interest of 75 basis points above the three-month LIBOR; US$2 million of five-year floating rate green bonds with an annual coupon interest of 85 basis points above the three-month LIBOR; and HK$2.60 billion of two-year fixed rate green bonds with an interest of 3.0% per year.
The bank said June 14 that the bonds were issued June 13 under its US$6 billion medium-term note program.
The bonds were issued at par and will be listed on the Stock Exchange of Hong Kong June 21.
The green bond issuance is the first from a Hong Kong-incorporated bank. Proceeds from the issue will be used to promote Hong Kong's sustainable development and for green finance development in the Guangdong-Hong Kong-Macao Greater Bay Area.
ICBC (Asia) and Crédit Agricole CIB acted as the joint green structuring advisors. ICBC, Crédit Agricole CIB, Agricultural Bank of China Ltd., Hong Kong branch, Bank of Communications, Citigroup, HSBC, Standard Chartered Bank and UBS were the joint global coordinators and joint lead managers for the U.S. dollar tranches of the green bonds.
ICBC, Crédit Agricole CIB, HSBC, Standard Chartered Bank were the joint global coordinators and joint lead managers for the Hong Kong dollar tranche of the green bonds.