Taipei:Taiwan Semiconductor Manufacturing Co. (TSMC) is set to list NT$14.8 billion (US$450 million) in green bonds on November 12, as announced by the Taipei Exchange (TPEx) on Wednesday.

According to Focus Taiwan, since TSMC issued its first green bonds worth NT$12.0 billion in December 2020, the company has seen its outstanding green bonds total NT$229.1 billion, positioning it as the leading green bond issuer in Taiwan.

TSMC has confirmed that the green bonds will consist of two tranches NT$12.4 billion in five-year bonds with a 2.30 percent coupon rate, and NT$2.4 billion in 10-year bonds with a 2.42 percent rate. Taishin Securities Co. has been appointed as the major underwriter for the bond sale, with Taipei Fubon Commercial Bank Co. serving as the trustee.

The proceeds from these bonds are earmarked for investments in green architecture and environmental protection projects. Earlier, during a board meeting in February, TSMC received approval to issue up to NT$60 billion in unsecured bonds within the year to support production expansion and green projects. The NT$14.8 billion issuance is part of this broader NT$60 billion plan, marking the third issuance this year.

Taiwan's capital markets and financial authorities have been actively promoting the issuance of green bonds to boost environmentally responsible corporate practices. As per TPEx, the value of outstanding green bonds in Taiwan is currently NT$604.8 billion, with green bonds making up over 70 percent of the NT$826.0 billion total value on the sustainability bond market.