Recently, CBHB (09668) leveraged its professional expertise to successfully lead the registration and issuance of two tranches of green medium-term notes (carbon-neutral bonds) for the state-owned listed company Jinkai New Energy Co., Ltd. The combined issuance size is 1 billion yuan with a 3-year maturity, featuring coupon rates as low as 1.90% and 1.82%, respectively. These rates have consecutively set new historical lows for medium-term notes issued by AA+-rated entities in Tianjin, demonstrating precise financial support for the region's green and low-carbon transition.
As a national joint-stock commercial bank rooted in Tianjin, CBHB's breakthrough in the green bond sector is no coincidence. During the project execution, the bank's investment banking team demonstrated precise understanding of regulatory policies and efficient execution capabilities. The process, from project acceptance to obtaining the registration notice, took only 18 working days, setting a benchmark for registration efficiency in similar projects. This accelerated timeline highlights the team's professional and efficient execution standards and provides replicable experience for more high-quality local enterprises in Tianjin to access green bond financing.
Jinkai New Energy, a representative state-owned listed company in Tianjin's new energy sector, focuses on investment and operation of clean energy projects such as wind and photovoltaic power generation. Aligning with the national dual-carbon strategy and Tianjin's new energy industry layout, CBHB uses Jinkai New Energy as a pivot to deepen its green finance initiatives, precisely meeting the company's financing needs amid energy structure adjustments.
The two tranches of bonds garnered significant market attention, with active participation from various investors including banks, funds, securities firms, and wealth management subsidiaries. The subscription multiples reached 2.7 times and 2.5 times, respectively, reflecting strong capital market confidence in the credit quality and green development prospects of Tianjin's high-quality enterprises.
The raised funds will be fully allocated to clean energy projects such as wind and photovoltaic power generation, continuously supporting the optimization and upgrading of Tianjin's energy structure. According to professional estimates, the projects are expected to reduce carbon dioxide emissions by 658,700 tons annually and save 232,800 tons of standard coal. This demonstrates that through the issuance of these carbon-neutral bonds, CBHB not only provides low-cost, high-efficiency direct financing for real enterprises but also promotes ecological and environmental protection through tangible financial practices, injecting lasting momentum into regional green development.
The successful issuance of these carbon-neutral bonds also represents a significant achievement in Tianjin's efforts to enhance local debt management efficiency and deepen green development. In recent years, Tianjin has continuously optimized its financial business environment, encouraging financial institutions to innovate green financial products and supporting local enterprises in achieving low-carbon transformation through multi-level capital markets.
As the only national joint-stock commercial bank headquartered in Tianjin, CBHB consistently aligns with the city's high-quality development initiatives, focusing on key tasks and deepening its commitment to financial services. A senior representative from CBHB stated that the bank will continue to leverage green finance as an engine, deepen its involvement in strategic emerging industries, and provide more diversified, low-cost, and high-efficiency direct financing services for high-quality enterprises in Tianjin. Additionally, the bank will leverage its inherent advantages as a local corporate bank to develop comprehensive service capabilities in project exploration, policy alignment, and investor communication, empowering the development of new quality productive forces and continuously channeling financial resources into Tianjin's green and low-carbon high-quality development.