Frankfurt a.M. / Germany, November 20, 2018 – On Monday, November 19, Agricultural Development Bank of China (ADBC), one of China’s three policy banks, issued its inaugural Euro green bond with trading on the China Europe International Exchange (CEINEX) marketplace. The green bond has a maturity of 3 years and was sized at EUR 500 million with a floating interest rate made of 3 months Euribor rate plus 0.48 per cent. It was more than 3 times oversubscribed with the majority of the allocation going to European investors. The bond is also traded on the Luxembourg Stock Exchange and the Hong Kong Stock Exchange.
The ADBC is not only one of the three major bond issuers in China, but also the largest bond issuer around the concept “agriculture, rural areas and farmers”. Its issuance size of green financial bonds also ranks top among the China domestic green bond issuers.
ADBC’s bond program attracts lots of high-quality foreign investors, including multinational central banks, sovereign funds, banks, Investment banks, funds and asset management companies. The success demonstrated the high recognition of international investors for ADBC and its bonds for agricultural development. Following the Green Bond Principles (GBP) set by the International Capital Market Association (ICMA) and the Green Bond Endorsed Project Catalogue from the People's Bank of China, the proceeds will be used to finance and refinance eligible green asset categories, including renewable energy, sustainable water and wastewater management, as well as environmentally sustainable management of natural resources and land-use.
Mr. Qian Wenhui, President Agricultural Development Bank of China, said: Our Euro green bond issuance demonstrates the Agricultural Development Bank of China’s (ADBC) commitment to the provision of high quality and high rated investments to the international market. Also, our dedication is to develop green credit, and to attract domestic and international liquidity to support sustainable agriculture development.”
Dr. Chen Han, Co-CEO of CEINEX, commented: “The successful issuance of Agricultural Development Bank of China’s (ADBC) Euro green bond provides not only a new model regarding financing under the concept of “agriculture, rural areas and farmers”, but successfully proves the Chinese quasi-sovereign financial institutions going global practice and their active participation in international financial markets. As a platform for China-Europe financial cooperation, China Europe International Exchange (CEINEX) provides new opportunities to European and global investors to trade China-related exchange listed financial assets. In the future, CEINEX will continue to strengthen communication with all involved market participants and further contribute to Sino-European financial cooperation and global green development.”
About China Europe International Exchange AG (CEINEX)
Based in Frankfurt/Main, Germany, CEINEX is a joint venture established by the Shanghai Stock Exchange, the Deutsche Börse Group, and the China Financial Futures Exchange. As the first marketplace for RMB-related and China-related investment products in the Chinese offshore market, it acts as a unique bridge between the Chinese and international financial markets. CEINEX is dedicated to providing reliable offshore RMB- and China-related financial instruments to investors, so as to promote RMB internationalization.
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About Agricultural Development Bank of China (ADBC)
Established in 1994 with a registered capital of RMB57 billion, the Agricultural Development Bank of China (“ADBC” or the “Bank”) is the only agricultural policy bank in China under the direct leadership of the State Council. Our mission is to raise funds through market based on national credit, and act as a strategic pillar of the country in supporting the development of agriculture, rural areas, and farmers. Our aim is to build an agricultural policy bank with a specified position, well-performed functions, clearly-defined business lines, adequate capital, sound management, strict internal control, safe operation, quality service and sustainable development.
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