On September 10, Agricultural Bank of China Limited successfully issued an 8 billion yuan floating-rate green financial bond in the interbank market. The bond carries a three-year term with a coupon rate of 1.58%, representing a strategic move within the bank's broader financing framework.

This issuance is notably priced against the DR007 benchmark, marking the first floating-rate financial bond linked to the DR rate by a major state-owned bank this year. The DR rate is a transaction-based benchmark that adjusts daily according to money market activity, offering a more responsive reflection of liquidity shifts compared to the monthly-quoted LPR rate.

The bond sale underscores Agricultural Bank of China Limited's commitment to advancing the People's Bank of China's monetary policy framework transformation and fostering the growth of the floating-rate bond market. The issuance attracted robust demand from a diverse range of investors, including major state-owned banks, joint-stock commercial banks, funds, securities firms, and trusts, ultimately achieving an oversubscription ratio of 2.6 times.

Proceeds from the bond will be strictly allocated in accordance with regulatory and legal requirements to support credit deployment in green industry projects. This initiative is designed to precisely facilitate the green and low-carbon transition, contributing meaningful momentum to the broader green finance agenda.