April 26, 2017 / 9:17 AM / 4 months ago

Taiwan banks seek approval for their first green bonds

TAIPEI, April 26 (Reuters) - Bank subsidiaries of Sinopac Financial Holdings Co and China Development Financial Holding Corp have applied for approval from Taipei Exchange to issue their first green bonds, two sources with knowledge of the matter said.

Subsidiaries Bank SinoPac and KGI Bank have applied for the approvals.

According to the sources who declined to be named, Taiwan's banks are currently active players in seeking to issue the green bonds. The two banks in this case will use the funds mainly to make loans for green financing.

In a response to a query from Reuters, the Taipei Exchange said two banks had applied for approval for green bond issuance, but declined to provide more details.

The Taipei Exchange has launched new services for issuers looking to sell green bonds, a part of the government's wider push to help the green energy technology industry obtain medium and long-term financing.

Both Bank Sinopac and KGI Bank declined to comment. (Reporting by Emily Chan; Writing by Jess Macy Yu; Editing by Sam Holmes)

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