Shenzhen municipal government on the 8th sold 4 bln yuan of offshore RMB local
government bonds in Hong Kong SAR, its sixth consecutive annual Hong Kong
issuance since 2021 to support Greater Bay Area market connectivity. The deal
splits into a 10-year general bond of 1.5 bln yuan priced at 1.81% and a 5-year
low-carbon city green bond of 2.5 bln yuan priced at 1.51%; proceeds will mainly
fund metro projects. The green tranche is certified by the Hong Kong Quality
Assurance Agency and aligns with Phase 2A of the Hong Kong Sustainable Finance
Classification.