On July 18, Industrial Bank successfully issued 20 billion yuan of green bonds with a coupon of 3.55% with a maturity of 3 years, which was more than twice oversubscribed.
This is the largest single issuance of green bonds by commercial banks so far this year. So far, all the 80 billion yuan of green bonds approved by Industrial Bank have been issued, and its stock of green bonds will reach 100 billion yuan.
The cumulative issuance scale has increased to 130 billion yuan, setting a new high for the issuance of green bonds by commercial banks.
It is understood that the funds raised will be specially used to meet the relevant requirements of the People's Bank of China's announcement No. 39 on green bonds in 2015, and the Green Bond Endorsed Project Catalogue.
The new launch of green projects such as environmental protection, energy conservation, clean energy and clean transportation, to support environmental improvement and deal with climate change, will further promote the development of the bank's green finance business and improve the level of services in the field of green finance.
After the official launch of China's green bond market in 2016, the issuance scale has grown rapidly and has become the largest green bond market in the world.
In the first half of 2019, the issuance volume reached 131.6 billion yuan, an increase of 52% over 2018, and continued to maintain a good momentum of development.
As a forerunner of green finance in China, Industrial Bank launched its first green financial bond in 2016, completed three issuances of green bonds totaling 50 billion yuan that year, and made continuous innovative breakthroughs in the field of green bonds.
It has become an important participant and active player of the domestic green bond market.
In November 2018, the bank issued two green bonds totaling 60 billion yuan, and completed the first overseas green bond issuance at the same time, becoming the first Chinese commercial bank to complete the issuance of green bonds in both domestic and overseas markets.
It has also become the commercial and financial institution with the largest balance of green bonds in the world.
At the same time, in the field of green bond underwriting, the bank continues to lead the market, successively launching the first green private placement note (PPN) in the domestic interbank and exchange markets, the first "tri-green" asset-backed bills in the interbank bond market, and jointly launching the ChinaBond CIB Green Bond Index. Its amount of underwriting of green debt financing instruments in the interbank market ranks first in the market for two years in a row.