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ICBC Starts to Sell CDB “Carbon Neutral” Financial Bond on March 19

From March 19 to 23, 2021 (excluding non-working days), ICBC will distribute the first three-year “carbon neutral” “Bond Connect” green financial bond of China Development Bank (CDB) to personal and corporate customers at the over-the-counter market. The funds raised from the issuance will be used in green projects, including cleaner energy, to help China realize its goals of achieving peak carbon emissions and carbon neutrality.

This bond is the first “carbon neutral” green bond certified by the Climate Bonds Initiative (CBI). Under the full name of CDB 2021 Phase I Green Financial Bond, it is a three-year fixed-rate coupon bond with the bond code 2102001, a coupon rate at 3.07% and an issue price of RMB100.00 per share (par value). Personal and corporate customers can purchase the bond via ICBC’s e-banking and domestic outlets. The e-banking channel provides around-the-clock non-stop transaction services on working days during the issuing period. Except the common strengths shared by regular over-the-counter CDB bonds such as high security, excellent profitability and strong liquidity, the bond plays a positive role to China’s green development, because it will directly invest in carbon emission reduction projects, including wind power, PV, etc.. For this bond, while actively participating in its investment and distribution at home, ICBC has given full play to its international network, organizing a number of overseas branches, sub-branches and institutions to sell the bond overseas as cross-border coordinators via the direct investment channel of the interbank market and the Bond Connect channel.

ICBC will take green finance as a long-term development strategy, fully promote the development of the green financial system and achieve synchronous improvement in economic, social and ecological benefits, to help build a beautiful China with financial power. The green bonds currently underwritten and invested by ICBC cover green financial bonds, ultra-short-term financing bonds, medium-term notes, asset-backed notes and corporate bonds. ICBC has underwritten a total of 44 green bonds. The size of bonds for which ICBC has served as a leading underwriter has totaled nearly RMB70 billion.