DUBAI, Sept. 4 (Xinhua) — The Dubai branch of the Industrial and Commercial Bank of China Ltd. (ICBC) on Thursday held a bell-ringing ceremony at Nasdaq Dubai to mark the listing of its global dual-currency green bonds themed after “China-Arab states renewable energy cooperation.”
The dual-currency green bonds, denominated in U.S. dollars and offshore Chinese renminbi, have a combined issuance size of 700 million U.S. dollars and were listed simultaneously in Dubai, Hong Kong and London.
Bond proceeds will be used to support low-carbon projects in the renewable energy sector in China and Arab countries, according to ICBC.
Following the listing, ICBC’s cumulative issuance of renminbi-denominated bonds on Nasdaq Dubai has exceeded 10 billion yuan (about 1.49 billion dollars), the bank said.■
