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Hong Kong to list first Shanghai free-trade zone offshore yuan green bond

The 1.5 billion yuan, three-year note will carry a 1.8% coupon and begin trading Aug. 20.

Reported · Written up by our desk · Government Bonds

Hong Kong is set to welcome its first Shanghai free-trade zone offshore bond, a move aimed at reinforcing the city’s role as a leading offshore yuan hub as competition from mainland China grows, according to SCMP Economy.

Hong Kong Exchanges and Clearing said Shanghai Electric Global Capital, a financing arm of Shanghai Electric, will list a 1.5 billion yuan (US$222.4 million) green free-trade zone bond on Aug. 20. The three-year note carries a 1.8% coupon and is described as the first non-financial corporate free-trade zone offshore bond to be brought to market.

SCMP Economy reports that Bank of China will act as global coordinator and lead manager, using its Hong Kong and Shanghai units to arrange the cross-border issuance.

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