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Bonds

Mizuho to lead China's first green bond sale backed by car loans

Japanese bank sees growth opportunity in ESG finance segment

A Polestar 2 electric vehicle sits on the stage at a media day for the Auto Shanghai show in Shanghai on April 20.   © Reuters

SHANGHAI -- Japan's Mizuho Bank will serve as a principal underwriter for China's first green bond that consists only of income streams from loans for low- and zero-emission cars as Beijing pursues an ambitious climate change goal.

The 910 million yuan ($142 million) offering will be created from loan claims held by a financial company affiliated with state-owned automaker SAIC Motor. Terms of the sale will be decided as soon as Tuesday.

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