Linklaters has advised the International Finance Corporation (IFC) on its HKD5 billion (USD650 million) social bond, marking the largest Hong Kong dollar-denominated bond by a supranational entity and the first of its kind in public format for Hong Kong dollars.
The IFC’s social bonds are listed on the London and Singapore stock exchanges and were facilitated by the Hong Kong Monetary Authority’s Central Moneymarkets Unit. Proceeds issued under the Social Bond Principles will fund affordable infrastructure, housing, women-owned businesses and food security. The IFC is a World Bank Group member.
London-based partner Elaine Keats and Hong Kong-based partner Terence Lau led Linklaters’ cross-border team on this transaction. London-based managing associate Sirae Chen also supported the team.
“The successful issuance underscores the unique role of Hong Kong and the opportunities for further growth of the Hong Kong dollar bond market,” added Lau.
