Recently, China Resources Financial Leasing Co., Ltd. (hereinafter referred to as "CRFL") successfully issued its 2026 Tranche IV Green Medium-Term Notes (Carbon-Neutral Bonds). This issuance marks the company's first 3+2 year term product, with an issuance scale of RMB 1 billion and a coupon rate of 1.63%. The issuance was 3.41 times oversubscribed. This successful issuance not only set a new record low for CRFL's bond issuance coupon rates but also achieved the lowest interest rate in the same industry, for the same product, and the same term over the past decade.
All funds raised from this tranche will be fully allocated to green and low-carbon industrial projects in the clean energy sector, specifically targeting photovoltaic power generation and waste incineration power generation projects. Certified by an independent third party, the green grade of these notes is G1 (the highest level), fully reflecting the excellent performance of the invested projects in carbon emission reduction and environmental benefits. The invested projects, with their significant environmental benefits, will provide strong support for building a clean, low-carbon, safe, and efficient energy system in the project locations.
As the sole financial leasing company under China Resources Group and a council member of the Shenzhen Green Finance Association, CRFL has always practiced the integrated development concept of "inclusive finance" and "green finance," taking concrete actions to fulfill its corporate social responsibility and assist in achieving the national "Dual Carbon" strategic goals. Serving as the legal counsel for this project, Llinks leveraged its rich project experience and solid professional capabilities in bond issuance and green finance to provide comprehensive, professional, and efficient legal services for CRFL's issuance of these green medium-term notes (carbon-neutral bonds).
Llinks Engagement Team
Candice Du, Partner
Diane Deng, Associate
