ICBC lists $2.2b green bonds on Nasdaq Dubai

ICBC lists $2.2b green bonds on Nasdaq Dubai

The carbon-neutrality-themed bonds, with tenors of 2 and 3 years, were issued by ICBC's branches in Dubai

Officials at the bell ringing ceremony. - Courtesy: Dubai Media Office

By WAM Published: Tue 28 Feb 2023, 8:52 PM

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 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 US dollar, offshore yuan and Australian dollars, and ICBC plans to use the proceeds from the bonds to fund green financing in different jurisdictions and operations.

Yiming