Hungary issues green panda bond
Hungary has become the first country in the world to successfully issue a green "panda" bond - targeted at the domestic Chinese market - with a value of around HUF 50 billion, Finance Minister Mihály Varga said at a press conference on Tuesday, according to a report by state news wire MTI.
Varga said oversubscription for the RMB 1 bln, three-year bond panda bond was almost double.
The purpose of the issue was to draw in resources for the fight against climate change, ensure Hungary's continuous presence on Chinese financial markets and expand investor scope, thus diversifying the financing of state debt, he added.
week earlier, Government Debt Management Agency (ÁKK) head Zoltán Kurali said Hungary had mandated the Bank of China to arrange the issue of a yuan-denominated green panda bond. He said the aim of the transaction was to ensure Hungary's continuous market presence in China.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.