Kexim, ADB trust fund to guarantee Hanwha green bonds

The Export-Import Bank of Korea and the Credit Guarantee and Investment Facility will guarantee green bonds to be issued by renewable energy company Hanwha Solutions.

Hanwha Group affiliate Hanwha Solutions will issue its first overseas green bonds worth $153.1 million, as part of efforts to bolster its solar power and hydrogen businesses. Kexim, and the CGIF - a trust fund of the Asian Development Bank (ADB) - will each guarantee 50% of the yuan-dominated bonds issued by Hanwha, with a three-year maturity and an interest rate of 3%. When converted into the Korean currency, the bonds will offer an annual interest rate of approximately 0.7%.