Galaxy Entertainment Group has invested US$10m in so-called green bonds issued by Mingyang Smart Energy Group.
Macau.- Galaxy Entertainment Group has announced an investment of US$10m in green bonds issued by Mingyang Smart Energy Group, a comprehensive solution provider for clean energy and the first private company in Macau to issue such bonds. The proceeds from the bond issuance will be used to fund new green energy projects.
The bond issuance was listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd. (“MOX”) and was issued by the Bank of China Macau Branch (BOC Macau) as the joint global coordinator. Galaxy Entertainment said the move aims to support the integrated development of the Guangdong-Hong Kong-Macao Greater Bay Area and the development of Macau’s financial market.
It’s the third time the casino operator has invested in Corporate Social Responsibility Green bonds. In October, the company invested RMB100m (US$15.6m) in green bonds issued by the Bank of China Macau Branch (BOC Macau).
Last March, Galaxy Entertainment also subscribed to HK$100m of social bonds to support companies impacted by Covid-19. The operator said at the time that proceeds from the bonds, dubbed Covid-19 Impact Alleviation Social Bonds, would be used to provide loans and finance to SMEs impacted by the pandemic.