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First RMB-denominated green bond issued in Paris
Last Updated: 2017-11-17 14:58 | Xinhua
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Bank of China (BOC), one of the country's four biggest lenders, has issued a green bond in Paris denominated in three currencies -- euro, US dollar and Chinese currency renminbi -- for a total equivalent amount of $1.5 billion, the bank said Thursday in a statement.

It was the first issuance of a RMB-denominated green bond in the French capital, BOC Paris branch said in the statement.

This bond has been certified by the international organization "Climate Bond Initiative", and was issued in three tranches, namely 700 millions of euro, 500 millions of US dollars, and 1 billion Chinese yuan, the bank said.

This issuance has been subscribed by more than 230 investors, while the order book has been oversubscribed more than 2.6 times, the bank said in the statement. The proceeds are mainly for the construction of clean transport, renewable energy production and other green industry projects.

The bond was expected to be listed on the Euronext stock exchange by the end of November, according to BOC Paris branch.

Also on Thursday, Paris Europlace, the association promoting the Paris financial market, welcomed the issuance of the green bond.

"The strong oversubscription of the Euro tranche (more than 3 times the amount issued) demonstrates the attractiveness of European investors especially for the green bond market in euros and for the financing of 'green projects' in China and in Europe," Paris Europlace said in a statement.

"This initiative of Bank of China is part of the commitment of China, the main signatory of the Paris agreement, to contribute to the fight against global warming," Paris Europlace said.

This "reflects the European and international leadership of the Place de Paris in the field of green finance", it added.

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