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Hong Kong and Ireland Issue Sovereign Green Bonds

2023 has kicked off with sovereign green bond activity from Hong Kong and Ireland. According to Reuters, Hong Kong’s government has raised US$5 billion in dollar, euro and offshore yuan green bond issuance, with investor demand stronger than expected. Its US$3 billion tranche will be spread across three, five, ten and 30-year tranches. The €1 billion tranche was raised in two and seven-year tenors, while the offshore yuan deal – valued at around 5 billion yuan – was issued in two-, three- and five- tranches. In Europe, Ireland’s National Treasury Management Agency has reportedly hired BNP Paribas, Bank of America Securities, Cantor Fitzgerald Ireland, Danske Bank, Deutsche Bank and Nomura to manage the sale of its 20-year green bonds. The sale, set to launch today, seeks to raise between €2 billion and €3 billion, according to sources. The proceeds will finance eligible projects, such as sustainable water and waste management, as well as clean transportation and renewable energy deals as part of the government’s plans to halve the country’s greenhouse gas emissions by 2030.

 

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