ICBC celebrates listing of four green bonds totaling $2.2bln on Nasdaq Dubai

ICBC celebrates listing of four green bonds totaling $2.2bln on Nasdaq Dubai

DUBAI - The Industrial and Commercial Bank of China Limited (ICBC), the world’s largest bank by assets, celebrated the listing of four green bonds worth a total value of US$2.2 billion on Nasdaq Dubai, and Zhang Yiming, Ambassador of the People’s Republic of China to the UAE, rang the market opening bell to mark the occasion.

Accompanying Zhang Yiming were Liu Zhengjie, Deputy Consul-General of China to Dubai, Luo Wei, General Manager of ICBC Dubai (DIFC) Branch, and Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).

The carbon-neutrality-themed bonds, with tenors of 2 and 3 years, were issued by ICBC’s branches in Dubai, Hong Kong, Singapore, and Sydney. ICBC is the first Chinese bank to start the year 2023 with a multi-branch and multi-currency capital markets transaction that saw strong and diverse demand from international investors.

The four green bonds are denominated in USD, CNH, and AUD, and ICBC plans to use the proceeds from the bonds to fund green financing in different jurisdictions and operations.

Zhang Yiming highlighted the significance of the ICBC's multi-currency carbon-neutrality themed bond listing, stating that it demonstrates Chinese enterprises' commitment and achievement towards the green economy and climate change in the region. He also expressed