Hanwha Solutions Corp., chemical manufacturing unit under South Korean conglomerate Hanwha Group, is offering its maiden global and green bond in Chinese denomination.

It will issue Dim Sum bonds - papers issued in Hong Kong but in Chinese renminbi - worth 1 billion Chinese yuan ($152.5 million).

It would be its first overseas debt since rebranding after merger of Hanwha Q Cells & Advanced Materials and Hanwha Chemical last year.

The three-year bonds are guaranteed by the Credit Guarantee and Investment Facility (CGIF) under the Asian Development Bank (ADB).

The CGIF received a credit rating of AA stable from global credit ratings agency Standard and Poor’s (S&P).

The proceeds will be used for its eco-friendly business under the group-wide efforts to drive the ESG.

Last month, Hanwha Solutions successfully sold 1.35 trillion won in new shares as well to raise funding for solar energy and green hydrogen investments under the ambitious 2.8 trillion won green initiative for the next five years.

Hanwha Group recently has been active in diversifying financing sources. Hanwha Energy sold U.S. dollar-denominated bonds via the U.S. operation, and Hanwha Total Petrochemical euro bonds. Hanwha Chemical, formerly, issued Samurai bonds.

Hanwha Solutions shares closed 0.21 percent lower at 48,350 won in Seoul trading on Tuesday.

By Kang Woo-seok and Lee Ha-yeon

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