ICBC London branch lists $1.58bn Equivalent Green Bond on London Stock Exchange

London Stock Exchange Group (LSEG) welcomes the listing of Industrial and Commercial Bank of China London Branch’s (ICBC London Branch) US$1.58 billion equivalent green bond on its International Securities Market (ISM) and green bond segment. The green bond, part of ICBC’s $10 billion MTN programme, is the largest ever green bond listing on London Stock Exchange and the first Chinese issuance on ISM.

ICBC London Branch’s dual-currency green bond includes a three year floating rate dollar tranche which raised US$500 million, a five year floating rate dollar tranche which raised US$500 million and a three year floating rate euro tranche which raised EUR500 million. The bond priced at the tightest level ever achieved by ICBC in USD and EUR in a comparable floating rate notes format.

ICBC London Branch will use the proceeds to finance eligible green assets under the bank’s Green Bond Framework, including renewable energy, energy efficiency, low-carbon transportation, sustainable water and wastewater management. The notes have received Climate Bonds Initiative Certification. CICERO and Zhongcai Green Financing Consultants Ltd. have also provided second party opinions on the company’s Green Bond Framework.

Quick facts

Track
Market: ISM
Instrument market cap (£m)
-
Listing/Admission to trading
17 Oct 2019
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