CBI members, HSBC and BNP Paribas have been announced as joint lead arrangers for an inaugural green loan to be offered by Industrial & Commercial Bank of China through its London branch. The announcement was made during the 10th UK – China Economic & Financial Dialogue, which took place in London on Monday.
According to the mandate letter, the loan will be structured through a dual currency term loan facility, and will be traded in both British pounds and US dollars. ICBC hopes to raise up to $400 million with this loan for investment into green projects.
Paul Yang, head of BNP Paribas Greater China, said “The signing of the mandate letter represents a landmark moment for sustainable finance in China.” The arrangement of the loan marks the first Green Loan Principles-compliant loan facility to be structured for a Chinese bank.
Daniel Klier, global head of sustainable finance of HSBC said “The funding demonstrates HSBC’s commitment and dedication to the green loan market, which we are determined to support and develop. This is part of our commitment to provide $100 billion in sustainable financing and investment by 2025.”
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