China Construction Bank lists green bonds on Nasdaq Dubai

China Construction Bank (CCB) has listed two green bonds totalling US$1.2 billion on Nasdaq Dubai.

Seeking greater global exposure, the issuances on the region’s international exchange were made by the Hong Kong branch of CCB to “support the bank’s efforts to combat climate change,” Nasdaq Dubai said in a statement.

The $700 million bond maturing in 2025 achieved a coupon of 1.25%, while the $500 million bond achieved a 1% coupon and will mature in 2023.

The latest issuances bring the total number of CCB-listed bonds on Nasdaq Dubai to four.

Li Xuhang, consul general of the People’s Republic of China in Dubai said: “The business activities of Chinese banks in the UAE and Dubai International Financial Centre (DIFC) continue to grow. The listing of CCB’s green bonds on Nasdaq Dubai is in line with the UAE’s vision of supporting clean energy and a green economy.”

Essa Kazim, DIFC governor and chairman of Dubai Financial Market (DFM), said: “Dubai’s unique position as the region’s business and finance hub is a catalyst for rapidly developing economic links with China that promote mutual prosperity and development.

“The ability of our capital markets infrastructure to support the fund raising requirements of Chinese issuers plays a significant role in promoting dynamic and productive cross-border activities,” added Kazim.

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