Galaxy puts US$10mln in Macau-issued corporate green bond

Dec 23, 2021 Newsdesk Industry Talk, Latest News, Macau, Top of the deck  

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Macau casino operator Galaxy Entertainment Group Ltd said on Wednesday that it recently invested US$10 million towards a US$200-million green bond issuance in Macau by a mainland China-based clean-energy business, Mingyang Smart Energy Group Co Ltd.

The bonds bear 1.60 percent interest, and are due in 2024. They are listed on Macau’s fledgling bond market, the Chongwa (Macao) Financial Asset Exchange Co Ltd, also known as MOX, according to the disclosure notices filed by the Guangdong province-based energy firm.

Galaxy Entertainment senior vice president of public relations, Buddy Lam Chi Seng (pictured right), attended the listing ceremony.

In its Wednesday release, the casino operator said it has been “proactively supporting” the development of Macau’s financial markets, and the city’s integration into the Guangdong-Hong Kong-Macau Greater Bay Area.

Galaxy Entertainment said its subscription to Mingyang Smart Energy’s corporate green bond marked its third investment in “corporate social responsibility and green bonds”.

In September the casino group invested CNY100 million (US$15.6 million) in so-called “biodiversity-themed green bonds” issued by Bank of China Ltd (BOC), Macau Branch.

Last year Galaxy Entertainment subscribed to HKD100-million (US$12.9 million) worth of special bonds, issued also by Bank of China Macau Branch, and described as an instrument to help support local small and medium-sized enterprises amid the disruption brought by the Covid-19 pandemic.

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