China issues for the first time in Canada a green bond denominated in yuan worth 4 billion

This is the first of yuan-denominated bonds carried out abroad by the Chinese state, deepening its efforts to internationalise the yuan and ‘dedollarise’ the financial system

The Chinese government has issued for the first time a ‘green’ bond denominated in yuan worth 4 billion yuan (£535.1 million) which aims to finance investments in sustainable development and has reached a demand of 59 billion yuan (£7.893 million).

According to ‘Bloomberg’ citing knowledgeable sources, this offering in Chinese currency has been launched for the first time in Canada split into two tranches of three and five years at 1.4% and 1.5% interest, respectively.

Additionally, the Royal Bank of Canada, which has acted as the ‘bookrunner’ for the operation, has specified that the oversubscription rate has risen to 14.75 times the target figure.

This issuance is the first of yuan-denominated bonds carried out abroad by the Chinese state, beyond Hong Kong, Macau and London. With this, Beijing deepens its efforts to internationalise the yuan and ‘dedollarise’ the financial system.

Writing Counselors
We want to tell what those who manage our capital, our votes, and our rights think, and why. In the large listed companies and in the major institutions that have emerged to defend and represent us, to set the course.

Most read