China’s ICBC pulls the trigger on USD 2 bn green bonds in Dubai’s debt market: State-owned Industrial and Commercial Bank of China has listed green bonds worth USD 2.03 bn on Nasdaq Dubai, pushing the stock exchange’s total green issuances up to USD 18.55 bn, according to a statement. The latest debt sale makes ICBC the bourse’s largest green issuer to date with a cumulative total of USD 6.93 bn in green bond issuance.

More details: Dubai’s ICBC branch, the world’s largest lender by assets, as well as ICBC divisions in Hong Kong, Singapore and Luxembourg each listed a green bond on Nasdaq Dubai as part of the USD 2 bn issuance, however the value of each issuance was not disclosed. The bonds’ tenors were not disclosed nor were the arrangers for the debt sale. The green bond sale brings Nasdaq Dubai’s total listed green issuances to USD 18.55 bn.

ICBC has been on a roll: Back in March,ICBC listed four green bonds worth USD 2.2 bn in total on Nasdaq Dubai. Proceeds from the bonds are planned to be used to mobilize green financing across the bank’s different jurisdictions. The bonds were denominated in USD, CNH (CNY traded in the offshore market) and AUD. They have tenors of two and three years and were issued by ICBC’s branches in Dubai, Hong Kong, Singapore, and Sydney.

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