Crédit Agricole CIB supports Hong Kong SAR Government’s new multi-currency green and infrastructure bonds

Crédit Agricole CIB acted as the Joint Global Coordinator, Joint Bookrunner, Joint Lead Manager and Joint Green and Sustainable Bond Structuring Bank to price approximately HK$27.6 billion worth of green bonds and infrastructure bonds issued by the Government of the Hong Kong Special Administrative Region of the People’s Republic of China (the HKSAR Government), reinforcing our leading market position in sustainable finance as we have been supporting all rounds of institutional green bond issuances by the HKSAR Government.

This transaction marks another record-breaking milestone for HKSAR Government with the largest 30-year HKD government book build to date, and the largest CNH issuance in the respective CNH 20-year and 30-year tenor buckets.

The infrastructure bonds will finance key infrastructure projects, including the Northern Metropolis, thereby accelerating project completion, supporting Hong Kong’s economy and enhancing the quality of life for residents in Hong Kong. Also, the green bonds will fund green and low-carbon transformation projects, as well as consolidate Hong Kong’s development as a green and sustainable finance hub.

This issuance attracted participation from a wide spectrum of investors from over 30 markets across Asia, Europe, the Middle East, and the Americas. The total orders reached around HK$239 billion equivalent, representing an approximate 8.6x oversubscription. The issuance size of the 30-year HKD bonds was also double that of HKSAR Government’s inaugural issuance last year. This outstanding market response not only reaffirms the Bank’s leadership in the green bond sector, but also demonstrates our unparalleled capabilities in sustainable finance.

We have been supporting all rounds of HKSAR Government’s institutional green bond issuances by leveraging our green finance expertise and leading bond distribution network, and we continue to play a pivotal role in structuring these transactions and ensuring they meet international standards.

This success also reflects the Hong Kong Monetary Authority’s ongoing commitment to advancing Hong Kong’s position as a premier international financial centre, particularly through the development of long-dated local currency bond markets in both CNH and HKD.