London Stock Exchange welcomes Bank of China celebrating the listing of USD 2.2 Billion of Sustainable Bonds

The General Manager of Bank of China Limited London Branch and Chief Executive Officer of Bank of China (UK) Limited this morning opened the market at the London Stock Exchange to mark the listing of USD 2.2 Billion of Bank of China Sustainable Bonds. The bonds included outstanding Blue, Transition, and Biodiversity bonds, along with the recent ground-breaking and innovative Sustainability Re-linked Bond (SRLB), which was issued on 27th October. All of the bonds listed were issued in line with internationally recognized ICMA Principles.

BOC London Branch General Manager and BOC UK Chief Executive Officer, Wenjian Fang, commented:

“This is one of several substantial steps made by Bank of China as part of its strategy to develop Green Finance and promote financial innovation. Green Finance provides a vibrant channel between the financial services industry and protection of the environment harnessed to sustainable economic growth. It also offers the power of finance to underpin energy transition, ensuring capital flows to those firms, investments, projects and technologies looking to create a sustainable, low-carbon future."

As part of this programme of listings, the innovative Sustainability Re-linked Bond (SRLB) is a highlight. This unique transaction provides a strong link between the sustainable bond and sustainability-linked loan markets, and represents a first for the ESG (Environmental, Social and Governance) finance market. This transaction also illustrates an imaginative and flexible approach to creating long term value and promoting sustainability values in businesses.

Anna Manz, Chief Financial Officer, London Stock Exchange Group PLC, commented:

“We are delighted to welcome Bank of China’s Sustainable Bonds to London Stock Exchange and congratulate BOC London Branch on its successful recent issuance of innovative Sustainability Re-linked Bond, the proceeds of which will be used to finance and/or refinance a portfolio of the Bank’s eligible Sustainability Linked Loans.”

The programme listing includes 6 bonds with a total outstanding issue amount of USD 2.2 Billion. As an active issuer of sustainable development bonds in the international capital markets, Bank of China is committed to contributing towards growth and innovation across the market for ESG related finance. The Bank closely follows developments in the sector and is actively working on building a comprehensive range of new green services and products, and will support customers on their journeys towards stronger ESG accountability and performance.

The SRLB is a three-year, fixed-rate USD denominated bond issued by Bank of China London Branch, to raise funds to support sustainable development linked loan projects in industries such as tourism, trade, manufacturing and warehousing.

Bank of China designed and issued the SRLB to promote financial integration across the ESG financial sector and provide bond investors opportunities to participate on a limited risk basis, in sustainable development-linked loans.

The underlying loans are designed to encourage companies to pay closer attention to, and continuously improve their ESG footprints, including reducing their carbon emissions.

Prior to launching the issue, Bank of China drew up and published a "Sustainability Re-linked Bond Management Statement" making reference to the relevant principles set out by the International Capital Market Association and the "Sustainability Linked Loan Principles" established by the Loan Market Association.

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