Bank of China, acting as the exclusive global coordinator, has assisted the Guangdong Provincial People's Government in successfully issuing RMB 2.5 billion of offshore local government bonds for 2026 in Macao. This marks the sixth consecutive year that BOC has served as the exclusive global coordinator for Guangdong's offshore RMB bond issuance.

The bonds comprise RMB 500 million in 2-year Hengqin construction-themed bonds with a coupon rate of 1.43%, RMB 1.5 billion in 3-year green bonds with a coupon rate of 1.46%, and RMB 500 million in 5-year blue bonds with a coupon rate of 1.57%. The funds raised will be specifically used to support major infrastructure projects in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, regional green and low-carbon development, and marine ecological conservation.

This issuance attracted significant attention and enthusiastic subscription from investors across various countries and regions, including Portugal, Switzerland, Macao, Hong Kong, Singapore, Japan, Malaysia, Thailand, and Indonesia. The investor base was diverse, comprising monetary authorities, commercial banks, investment banks, and asset management institutions. The order book peaked at RMB 23.2 billion, with a subscription multiple of 9.28 times, setting a new subscription record for local bond issuances in Macao.

Meanwhile, BOC leveraged its extensive experience in the green and blue bond sectors to assist the Guangdong Provincial People's Government in obtaining the Hong Kong Quality Assurance Agency's green certification for this bond issuance. The green and blue bonds were benchmarked against authoritative domestic and international financial standards, with the green bonds setting a record for the largest single issuance in the Macao market.

Since 2021, BOC has served as the exclusive or lead global coordinator in all offshore local government bond issuances, assisting the governments of Guangdong, Shenzhen, and Hainan in issuing a total of RMB 68.7 billion in offshore local government bonds, with its cumulative underwriting scale leading the market. Its group-wide coordination capabilities and high-quality, efficient services have been recognized by issuers. 

BOC remains committed to promoting financial product innovation and the development of the offshore RMB bond market, making greater contributions to financial market connectivity and integration and the international use of RMB.