HONG KONG Hong Kong is looking to raise between US$500 million and US$1 billion in five-year green bonds as it looks to establish itself as a centre for green finance.
Hong Kong is marketing a five-year US dollar-denominated green bond yesterday, according to a term sheet seen by Reuters. It is targeting a size of between US$500 million and US$1 billion, said a message sent to investors. The proceeds from green bonds get earmarked for investment in environmentally friendly projects. Green bonds form a small portion of the global bond market but are expected to gain in size.
Yesterday's bond is the first to be issued under Hong Kong's HK$100 billion green bond programme to fund projects around clean transportation, air quality improvement and green buildings.
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