MACAO, Aug. 31 -- China's Guangdong Province on Thursday issued an offshore municipal government bond in the Macao Special Administrative Region (SAR), the third such issuance since 2021 and the first issuance of a green municipal government bond in Macao.

The bond is offered to institutional investors with an issuance size of 2 billion yuan (274.46 million U.S. dollars), with 1 billion yuan for the green bond with a tenor of three years, and 1 billion yuan for the special bond with a tenor of two years.

The Monetary Authority of Macao said the move marks diversified financial cooperation between Guangdong and Macao, which is helpful to the coordinated development of green finance in the Guangdong-Hong Kong-Macao Greater Bay Area.

The Bank of China's Macao branch, lead underwriter of the issuance, said the funds raised will be spent on sewage prevention and treatment projects in the Greater Bay Area (1 yuan equals 0.14 cents).