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
Looking for new and recent issues?

More recent

London Stock Exchange welcomes the Republic of Korea’s Sovereign Green Bond to the Sustainable Bond Market

London Stock Exchange today welcomes the Republic of Korea issuing their €700mn -0.053% note due October 2026 to London Stock Exchange’s International Securities Market. The deal was more than 6 times oversubscribed, receiving bids in excess of €4.2bn from over 150 accounts.

The €700mn 5-year tranche is Korea’s debut green bond and it was admitted yesterday to our Sustainable Bond Mar

Learn more
London Stock Exchange Group welcomes TPI Global Climate Transition Centre

The Transition Pathway Initiative (TPI) assesses companies’ progress on the transition to a low‐carbon economy. Led by asset owners, the global initiative is backed by an investor network with $40tn of assets under management or advisement.

The market opening at the London Stock Exchange is being held to mark the announcement of the TPI Global Transition Centre, which will provide fre

Learn more
London Stock Exchange welcomes Castelnau Group Limited to the Specialist Fund Segment to the Main Market

The London Stock Exchange today welcomes Castelnau Group Limited (‘Castelnau’), an investment company established to invest in public and private companies with the aim of outperforming the FTSE All Share Total Return Index over the long term.  The ordinary shares of Castlenau will be listed on the Specialist Fund Segment of the Main Market.</

Learn more
London Stock Exchange welcomes Light Science Technologies Holdings plc

Today, London Stock Exchange welcomes Light Science Technologies Holdings plc (“LSTH”) to trading on AIM under the ticker LST. In October 2021, LSTH successfully raised gross proceeds of £5 million (the “Placing”) and the Company’s market capitalisation on admission was approximately £17.5 million.

The net proceeds of the Placing, which are receivable by the

Learn more