Hong Kong will launch its first retail green bond this month. The bonds are expected to raise funds of HK$ 20 billion, equivalent to US$ 2.55 billion.
Citing Reuters (11/4), the issuance of green bonds with a tenor of three years is targeted to be held in April with an initial value of HK$ 15 billion. However, if there is excess demand, the value of the green bond will be increased to HK$ 20 billion.,
As is known, Hong Kong, which is the financial center of Asia, has postponed the offering of government bonds worth HK$6 billion due to the rapid spread of Covid-19.
"The bonds will bear an interest rate of 2.5%, up from 2% for the planned sale in March," said Hong Kong Treasury Secretary Paul Chan.
For your information, Hong Kong has stepped up efforts in recent years to become a leader in environmental and social governance, including the establishment of working groups with government officials and global companies to develop the talent pool.
But its ambition to become a green and sustainable business hub has been threatened by strict border controls on Covid-19, which have made it difficult for financial institutions to attract specialist staff.
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