ICBC's U.K. branch has appointed two global banks to arrange and manage its inaugural green loan.
BNP Paribas and HSBC are the joint Green Coordinators and Mandated Lead Arrangers for ICBC's inaugural green loan. Under the mandate, the loan will be used for green projects, in line with the Green Finance Framework newly established by ICBC. The dual currency term loan facility (USD & GBP) will enable ICBC to raise up to $400 million.
«ICBC is a wholehearted advocate of green principles and takes its environmental responsibilities very seriously. We are sure that this latest ground-breaking financing initiative will be received successfully in the market and look forward to celebrating its successful conclusion,» said Ruixiang Han, ICBC general manager, in a press statement on Tuesday.
ICBC was the first commercial bank in China to join the UN Global Compact in 2012 and joined the UN Environment Programme Finance Initiative (UNEP FI) in 2014. In 2018, ICBC issued its second Certified Climate Bond through its London branch and is currently the largest green bond listed on the London Stock Exchange.
