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FINWIRES

Shanghai Pudong Development Bank Completes Issuance of 15 Billion Yuan Green Bonds

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Shanghai Pudong Development Bank (SHA:600000) completed the issuance of two-tranche, 15 billion yuan of three-year green bonds, according to a Tuesday filing with the Shanghai bourse.

The first tranche is a fixed-rate bond with a size of 10 billion yuan and a coupon rate of 1.53%.

The second tranche is a floating-rate issuance with a size of 5 billion yuan and is linked to the one-year loan prime rate at a discount of 142 basis points and an initial coupon rate of 1.58%.

Proceeds will go to green industry projects laid out in the Green Finance Supported Project Catalogue.

Shares in the bank fell 2% during morning trading on Tuesday.

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