Green bonds issued for renewable energy

The issue of green bonds last month by two Chinese financial institutions showed that local investment organizations are actively looking for opportunities in sectors focused on sustainable development.

Industrial Bank Co Ltd, a leading commercial lender in green finance based in Southeast China's Fujian province, issued a three-year green bond worth 10 billion yuan ($1.52 billion) at a coupon rate of 2.95 percent annually.

It followed Shanghai Pudong Development Bank Co Ltd, a mid-sized lender, raising 20 billion yuan in China's first domestic green bond offer at the same coupon rate to support clean energy and environmental protection. The sale of the three-year bond attracted orders that were twice the size of the offer.