2 1 Shi Ji Jing Ji Bao Dao·2025-10-20 12:09Core Insights - The issuance of offshore RMB local government bonds by the Bank of China in Hong Kong aims to fund qualified green, blue projects, and major infrastructure projects in Nansha District, Guangzhou [1][2] - The bond issuance scale is RMB 7.5 billion, with different maturities and interest rates, indicating strong investor interest with an order book peak of RMB 20 billion and a subscription multiple of 2.7 times [1] Group 1 - The Bank of China served as the joint global coordinator, joint lead underwriter, and settlement agent for the bond issuance, providing comprehensive services including underwriting, cross-border clearing, and market research [1] - The bonds consist of three tranches: a 3-year green bond of RMB 3.5 billion at 1.72%, a 5-year Nansha-themed bond of RMB 2.5 billion at 1.80%, and a 10-year blue bond of RMB 1.5 billion at 2.09% [1] - The issuance is part of Guangdong Province's strategy to enhance cooperation within the Guangdong-Hong Kong-Macao Greater Bay Area and support the internationalization of the RMB [2] Group 2 - Guangdong Province is the first in China to issue local government bonds in both Hong Kong and Macau, aiming to attract international investors and enhance cross-border financial cooperation [2] - The Bank of China has facilitated the issuance of RMB 10 billion in offshore local government bonds for Guangdong Province this year, reinforcing financial market connectivity in the Greater Bay Area [2]