Green bond set to boost environment
By Cecily Liu in London | China Daily | Updated: 2016-11-12 07:58
International investors will find it easier to buy into China's environmentally-friendly projects after the Bank of China listed a "covered green bond" on the London Stock Exchange on Friday.
The three-year $500 million China Green Covered Bond, the first such bond to be issued by a Chinese entity and secured by onshore assets, offers investors a coupon rate of 1.875 percent.
The structure of covered bond is innovative, giving investors dual recourse: allowing claims over a dedicated "cover pool" of assets, and the usual claim against Bank of China.
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