Hong Kong Green Bond Market Briefing 2020

Although 2020 saw the highest number of deals, the total volume has decreased by 18% - due to small sized issuance. There were 15 aligned green bonds and one green loan2 from four entities, all of which are seasoned issuers/borrower.3 The largest deal in 2020 was from MTR Corp, with a USD1.2bn green bond issued in August. MTR was also the most prolific issuer, both in terms of number of bonds (7) and issue volume (USD1.5bn) - all issued between March and August. In terms of issuer types, 2020 volumes were dominated by the government-backed entity, MTR, with small volumes from nonfinancial and financial corporates.