Tawasul
Mubasher TV
Contact Us Advertising   العربية

Nasdaq Dubai welcomes ICBC's $2.68bn multi-tranche green bonds

Nasdaq Dubai welcomes ICBC's $2.68bn multi-tranche green bonds
Photo Gallery

UAE - Mubasher: The Industrial and Commercial Bank of China Limited (ICBC), the world’s largest bank by assets, has listed five-tranche carbon-neutrality-themed bonds worth $2.68 billion in Nasdaq Dubai.

These bonds were issued by ICBC’s branches in the Dubai International Financial Centre (DIFC), Hong Kong, London, and Singapore, according to a press release on Thursday.

The multi-currency issuance included the CNH-denominated tranche worth CNH 2 billion, issued by the branch of ICBC in Dubai.

The two-year note is the first carbon-neutrality theme bond issued in the GCC region and the largest CNH-denominated public bond issued within the ICBC Group.

The other tranches comprised a three-year EUR 300 million note, a two-year HKD 2 billion note, a three-year $1.2 billion note, and a three-year $600 million floating-rate note.

The Consul General of China in Dubai, Li Xuhang, said: "Dubai International Financial Centre (DIFC) has always been an excellent platform for the growth of Chinese banks in Dubai, helping to strengthen bilateral economic and financial cooperation."

Meanwhile, the General Manager of ICBC Dubai (DIFC) Branch, Zhang Junguo, commented: "In line with the UAE's vision of building a clean and green future, ICBC will continue to contribute together towards global sustainable development as it is said 'the climate transition is a global challenge that requires a global cooperation'."