China government debuts green sovereign bond offering
Seeking Alpha News (Wed, 02-Apr 1:41 AM)
China has launched its inaugural green sovereign bond sale, aiming to raise up to 6 billion yuan ($826 million) while also securing a London listing.
The bonds, with 3-year and 5-year maturities, are set at yields of 2.3% and 2.35%, respectively, and could be priced soon.
China's decision to list these green bonds in London underscores its intent to bolster financial ties with the UK and access Europe's large sustainable debt market.
This follows pledges made during the UK Chancellor's January visit to Beijing, focused on enhancing financial cooperation.
Moreover, this aligns with China's broader strategy to increase its international bond offerings, evidenced by recent sales in Saudi Arabia and Paris, as it pursues its decarbonization and 2030 emissions peak targets.
Investors now turn their attention to Thursday’s service and composite PMI reports for further economic insights.
The Shanghai Composite rose 0.3% to around 3,360 on Wednesday, building on the previous session’s gains as investors awaited clarity on US President Donald Trump’s upcoming tariffs, and the offshore yuan fell to around 7.27 per dollar on Tuesday, as the looming implementation of President Donald Trump’s reciprocal tariffs overshadowed positive manufacturing PMI data.
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