Weihai Bank completed the issuance of RMB500 million in Tranche One 2026 Green Financial Bonds in China's national inter-bank bond market, in an announcement filed with the Hong Kong Stock Exchange on Monday.
The bonds carry a coupon rate of 1.65% and a three-year term.
PROCEEDS TIED TO GREEN FINANCE CATALOGUE
Proceeds from the issuance are earmarked for projects specified in the Green Finance Support Project Catalogue (2025 Edition) and must comply with the Blue Finance Standards (Trial Version), the filing said. The use of proceeds is subject to applicable laws and approval from regulatory authorities, the announcement said.
The filing, lodged with the Hong Kong Stock Exchange under stock code 09677, does not identify the specific projects to be financed.
ISSUANCE MANDATE
The bonds were issued under the financial bond issuance mandate described in the bank's announcement of 22 March 2024 and circular of 28 March 2024.
Weihai Bank's shares are listed on the Hong Kong Stock Exchange under code 09677.
The RMB500 million raised through this tranche will, subject to applicable laws and regulatory approval, be used for green industry projects specified in the Green Finance Support Project Catalogue (2025 Edition).
The alignment of the Tranche One issuance with both the Green Finance Support Project Catalogue (2025 Edition) and the Blue Finance Standards (Trial Version) means projects funded by the bond must satisfy both sets of requirements.
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