China issues 4 billion yuan in green sovereign bonds in Canada

Résumé détaillé

China's Ministry of Finance successfully issued 4 billion yuan ($599 million) in yuan-denominated green sovereign bonds in Toronto, Canada, on Monday, the ministry said.

China's Ministry of Finance successfully issued 4 billion yuan ($599 million) in yuan-denominated green sovereign bonds in Toronto, Canada, on Monday, the ministry said.

The issuance comprised 2 billion yuan in three-year bonds at an interest rate of 1.4 percent and 2 billion yuan in five-year bonds at an interest rate of 1.5 percent, according to the ministry.

The bonds were warmly received by the market, with strong demand from international investors. Total subscriptions reached 54.04 billion yuan, 13.5 times the issuance amount, the ministry said.

The ministry noted that this marked its first issuance of yuan-denominated green sovereign bonds in Canada and was an important step in implementing the outcomes of the Second China-Canada Economic and Financial Strategic Dialogue, held in Vancouver on Sunday and Monday.

The issuance is significant for deepening bilateral exchanges and cooperation on green development and economic and financial issues, it added.

The bonds attracted a diverse range of investors across regions and categories. Asia-Pacific investors accounted for 77 percent of the total, while investors from outside the region made up 23 percent, including 15 percent from the Americas and 8 percent from Europe, according to the ministry.

By investor type, sovereign and supranational institutions accounted for 32 percent, banks 45 percent, funds, asset managers and insurers 22 percent, and dealers 1 percent. Green and sustainable investors accounted for 41 percent, ministry data showed.

The bonds will be listed on the Hong Kong Stock Exchange, the ministry said.

The ministry also said it held a ceremony at the Toronto Stock Exchange on Tuesday to mark the issuance. Chinese Vice-Minister of Finance Liao Min attended the ceremony and delivered remarks.

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