Hong Kong SAR Government’s first multi-currency digital green bonds

On 7 February 2024, the Government of the Hong Kong Special Administrative Region of the People’s Republic of China (the HKSAR Government) issued approximately HK$5.9bn multi-currency fixed rate digital green bonds (the Digital Green Bonds). Our capital markets team were excited to work with market participants on this issuance which combines the bond market, green and sustainable finance, as well as fintech. 

The two-year multi-currency Digital Green Bonds were denominated in US dollar, euro, HK dollar and Renminbi, making this the first multi-currency digital bond offering globally. 

The issuance expands digitalisation in a few key areas, including integrating the green bond disclosures with the digital assets platform so that the key green bond documentation (including the issuer’s Green Bond Framework and relevant third-party review reports) can be viewed on the digital assets platform - enhancing transparency and accessibility of information.

Read our briefing where we discuss the structure, regulatory considerations, key features and other considerations relating to the issuance.