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HK Issues Digital Green Bond  

Hong Kong has issued the world’s first government tokenised green bond. Tokenised bonds are completely digital assets transacted via blockchain infrastructure. Goldman Sachs provided the blockchain infrastructure used for Hong Kong’s issuance. Following a virtual roadshow earlier this week, the one-year, HKD-denominated tokenised green bond was priced at 4.05%. The HKD 800 million (US$ 100 million) issuance was distributed by a four-bank syndicate comprising Crédit Agricole CIB, Goldman Sachs, BOCHK, and HSBC – with the latter two also acting as custodians. Law firm Linklaters advised on the issuance. Financial Secretary Paul Chan said the issuance demonstrates Hong Kong’s strengths in combining bond market, green and sustainable finance, and fintech. Processes of the bond lifecycle, including coupon payment, settlement of secondary trading and maturity redemption, will also be digitalised and performed on the blockchain network.

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