South Korean government-owned financial institution Korea Development Bank (KDB) has issued its inaugural Green Bonds to raise US$300 million.

Proceeds will be used for financing or refinancing projects related to the development, construction, or expansion of renewable energy, including solar, wind and biomass projects.

The issuance received demand from accounts across Asia, Europe and the US. It was also oversubscribed more than two-fold. Bank of America Merrill Lynch, Crédit Agricole CIB and HSBC acted as the joint bookrunners in the offering.

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