企业绿色债券的发行决策要领——基于联想集团发行绿色债券的案例分析  

Key Points of Corporate Green Bond Issuance Decision:The Case Study of Lenovo Group's Issuance of Green Bonds

作　　者：唐子峻 闫开来 Tang Zijun;Yan Kailai

机构地区：[1]对外经济贸易大学商学院

出　　处：《管理会计研究》2023年第3期32-40,共9页MANAGEMENT ACCOUNTING STUDIES

摘　　要：绿色债券作为绿色金融的重要组成部分,在资本市场上越来越受到热捧。本文研讨的是中国公司发行绿色债券的制度安排、发行条款决策问题。本文研究以联想集团于2022年7月发行的10年期6.25亿美元息票率为6.536%的优先无担保绿色票据(LENOVO N3207)为案例,尝试研究该期债券的所在市场制度安排、发行条款特点及企业行为决策特点,试图总结出企业绿色债券在决策发行、条款设计的基本要领,也期待能为绿色债券发行的政策、理论和实操提供新的启示。As an important part of green finance,green bonds are increasingly popular in the capital market.This paper discusses the institutional arrangement and terms of issuance of green bonds by Chinese companies.Taking the 10-year US$625 million unguaranteed green paper(LENOVO N3207)issued by Lenovo Group with a coupon rate of 6.536%in July 2022 as an example,this study tries to figure out the institutional arrangement of the market in which the bonds are issued,the characteristics of the issuance terms and the characteristics of corporate behavior decision-making,and to summarize the basic essentials of corporate green bonds in decision-making,issuance and terms design.This paper hopes to bring some enlightenment for the practice of the issuance of green bonds.

关 键 词：绿色债券 债券市场 发行条款 联想集团 

分 类 号：F832.51[经济管理—金融学] F426.67[环境科学与工程—环境科学] X196