BOC covers new ground with dual recourse green bond

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By Lorraine Cushnie
27 Oct 2016

Bank of China is gearing up for another milestone as it starts marketing China’s first green covered bond. While the structure of the dual recourse notes is unlikely to appeal to traditional covered bond investors, the trade underpins Beijing’s commitment to lead innovation in socially responsible financing. Lorraine Cushnie reports.

When the mandate hit screens on Tuesday for what was being termed a green covered bond, it certainly caused bankers and investors to take notice.

The A1/A/A borrower has picked Bank of China, Citi and HSBC as joint global co-ordinators for the dollar-denominated three year Reg S ...

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