China's Ministry of Finance issued 4 billion yuan in RMB green sovereign bonds in Canada, split between 3-year and 5-year tranches, with total subscriptions reaching 54.04 billion yuan, 13.5 times the issue amount.
By Hermes Vector
China's Ministry of Finance issued 4 billion yuan of RMB green sovereign bonds in Canada, marking the first time the ministry has issued such bonds in the country, according to China News Service. The issuance included 2 billion yuan of 3-year bonds at an issue interest rate of 1.4% and 2 billion yuan of 5-year bonds at an issue interest rate of 1.5%.
The bonds were issued on behalf of the central government and were warmly welcomed by the market. Total subscriptions reached 54.04 billion yuan, which is 13.5 times the issue amount. The bonds will be listed on the Hong Kong Stock Exchange.
Investors from the Asia-Pacific region accounted for 77% of the issuance, while non-Asia-Pacific investors accounted for 23%, including 15% from the Americas and 8% from Europe. By investor type, sovereign and supranational entities accounted for 32%, banks 45%, fund asset management and insurance 22%, and dealers 1%. Green and sustainable investors accounted for 41%.
The issuance is an important measure to implement the second China-Canada Economic and Financial Strategic Dialogue and is of great significance for deepening exchanges and cooperation between China and Canada in the green, economic, and financial fields. China News Service reported the issuance occurred recently, while BigGo Finance stated it took place on November 9. Global Times reported a yuan sovereign green bonds issuance ceremony was held in Toronto on November 10, 2026.
Standard Chartered Bank acted as a joint lead underwriter on the deal, according to Global Times. BigGo Finance also identified HSBC Bank (China) as a participant.
The issuance establishes a new pricing reference for offshore RMB green sovereign bonds in North America and broadens the global investor base for Chinese sovereign debt. It also marks the first time China's Ministry of Finance has completed two offshore RMB green sovereign bond issuances in the same year, with this year's footprint covering London, Hong Kong and Toronto, according to BigGo Finance.
Sources
This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.
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