Hong Kong Delays First Retail Green Bond Launch Due to Covid-19

Hong Kong’s government is delaying the launch of its inaugural retail green bond due to the spread of coronavirus cases in the city. The government postponed the subscription period and issuance of the bond in order to “avoid the social contact arising from the application process and reduce the risk of the spread of the disease,” according to a statement posted on Hong Kong’s government website on Saturday. The subscription period was originally scheduled for March 1 to 11. The government plans to sell up to HK$6 billion ($768 million) in green debt directly to investors for the first time, with proceeds used to back nine types of sustainable projects run by the city, Bloomberg News reported earlier this month.