ICBC Singapore issues US$2.2b green bond for Belt and Road projects | Asian Banking & Finance
,Singapore
1 view

ICBC Singapore issues US$2.2b green bond for Belt and Road projects

The offering is available in three currencies: USD, CNY and EUR.

ICBC Singapore has issued its first green bond totalling US$2.2b where the proceeds will be used to finance green projects under the Belt and Road initiative.

Available in three currencies, the issuance has USD dual tranches amounting US$1.5b, a CNY1b and €500m tranches. The U.S. dollar-denominated tranche includes $900m three-year floating rate notes priced at three-month Libor plus 72 basis points and $600m five-year floating rate notes priced at three-month Libor plus 83 basis points. The CNY1b three-year tranche was priced at 3.3% whilst the euro tranche received over €1.8b in orders.

Also readCiti inks deal with BOC and CMB to explore co-financing Belt & Road projects

DBS is a joint global coordinator, joint book runner and joint lead manager of the issue. ICBC, Credit Agricole, HSBC and Standard Chartered Bank were the other joint global coordinators. The issuance had a total of 22 underwriters.

The proceeds will be used to finance or refinance eligible green projects under the Belt and Road Interbank Regular Cooperation Mechanism which include renewable energy, low carbon and low emission transportation, energy efficiency, and sustainable water and wastewater management. 

Get Asian Banking & Finance in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The number of HNWIs is expected to reach 3.9 million in 2021 or 60.6% of the population.
Banks have to remain consistent and continuous in testing best practices.
Shares were priced at the top end, at KRW39,000 ($34).
In January, 1.2 million transactions were carried out via the SGQR.
Its launch will require legal changes to the nation’s foreign exchange and IT rules.
But less than half of consumers are impressed with the digital financial services currently offered.
Treasury teams can mobilize liquidity and fund intraday payments in real-time.
Customers have the option to pay their tax balances in full or partially.
About 750 new accounts have been opened in four APAC markets through the new portal.
UnionDigital will be a wholly-owned subsidiary of the Philippine lender.
SmartStream’s Peter Hainz and Amazon Web Services’ Anna Green shared their insights on the advantages of on-demand and highly scalable cloud environments for banks and other financial institutions, as well as the factors hindering its adoption in the region.
This August, the Asian Banking & Finance and SAP will provide insights on the evolving landscape for ESG in financial services.
Thirteen lenders noted that demand was moderately weaker than the preceding 3-month period.
Investors will likely seek signs that private lenders will be able to step up lending once COVID subsides.