By Marisa Wong
Morgantown, W.Va., Nov. 22 – Bank of Qingdao Co., Ltd. said it completed its second tranche of green financial bonds, totaling RMB 4 billion, on Tuesday.
The bank sold RMB 3 billion of three-year bonds with a coupon of 3.3% and RMB 1 billion of five-year bonds with a coupon of 3.4%.
The bonds were issued at par.
Proceeds will be used for green industry projects.
The Qingdao, China-based bank announced in February 2016 that it received approval from the People’s Bank of China to issue up to RMB 8 billion of green financial bonds in China’s interbank bond market. The first tranche, totaling RMB 4 billion, was issued in March 2016.
| Issuer: | Bank of Qingdao Co., Ltd.
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| Issue: | Green financial bonds, 2016 second tranche
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| Amount: | RMB 4 billion
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| Settlement date: | Nov. 22
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| Three-year bonds
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| Amount: | RMB 3 billion
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| Maturity: | Nov. 24, 2019
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| Coupon: | 3.3%
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| Price: | Par of RMB 100
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| Yield: | 3.3%
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| Five-year bonds
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| Amount: | RMB 1 billion
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| Maturity: | Nov. 24, 2021
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| Coupon: | 3.4%
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| Price: | Par of RMB 100
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| Yield: | 3.4%
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