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# Postal Savings Bank of China prices CNY 5 billion carbon-neutral green bonds, 3.99x subscribed
- URL: https://www.theglobalbanker.com/postal-savings-bank-china-cny-5-billion-carbon-neutral-green-bonds/
- Published: 2026-07-17T18:58:00.000Z
- Updated: 2026-10-02T16:02:52.000Z
- Description: PSBC priced CNY 5 billion of three-year carbon-neutral green financial bonds in two tranches, drawing subscription of 3.99 times.
- Author: TGB Editorial Team
- Tags: ESG, Asia-Pacific

Postal Savings Bank of China has priced CNY 5 billion, roughly USD 740 million, of three-year carbon-neutral green financial bonds, attracting subscription of 3.99 times the offer size. The transaction, completed on 17 July, was split into two tranches: a CNY 2 billion fixed-rate portion at 1.46% and a CNY 3 billion floating-rate portion with an initial coupon of 1.48%, according to the lender.

The bank, one of China's largest state-owned commercial lenders, said proceeds would be directed to projects that generate clear carbon-reduction benefits. Both tranches carry a three-year tenor, in line with green financial bonds issued by other Chinese banks in July, which were generally three-year.

#### STRONG DEMAND ACROSS TWO TRANCHES

Bank of Jiangsu priced a three-year green financial bond at 1.49% on 15 July. Recent green financial bond rates were lower than a year earlier, which market participants attributed partly to loose interbank liquidity and strong institutional demand for high-quality credit assets.

#### PROCEEDS TIED TO CARBON REDUCTION

Postal Savings Bank of China said the funds raised would finance projects with clearly identified carbon-reduction benefits. The issue was the bank's first carbon-neutral-themed green financial bond, and 71 institutions took part in the order book.

The bank described the issue as an important tool for implementing China's "dual carbon" strategy.