By Mary-Katherine Stinson
Lexington, Ky., July 24 – Weihai City Commercial Bank Co., Ltd. issued RMB 5 billion of 2.7% three-year green bonds, according to an announcement.
The financial bonds were issued in China’s interbank bond market.
The proceeds raised from the green bonds, after expenses, will be used for green industry projects specified in the Green Bond Endorsed Project Catalogue (2021 Edition).
As previously reported, the bank was authorized to issue up to RMB 5 billion of financial bonds, contingent upon the year-end balance of financial bonds not exceeding RMB 19.8 billion in 2023. Among them, the existence of capital bonds such as tier 2 capital bonds and perpetual capital bonds shall not exceed 50% of the net core tier 1 capital.
The issuer is a commercial bank based in Weihai, China.
| Issuer: | Weihai City Commercial Bank Co., Ltd.
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| Amount: | RMB 5 billion
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| Issue: | Green bonds
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| Maturity: | 2026
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| Coupon: | 2.7%
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| Announcement date: | July 24
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