SYDNEY, Jan 4 (Reuters) - Hong Kong's government has launched a green bond deal using dollar, euro and offshore Chinese yuan denominations, according to a term sheet reviewed by Reuters on Wednesday, that sources said was aiming to raise up to $5 billion.

The book building for the transaction starts Wednesday and the term sheet does not outline how much the government is looking to raise.

However, sources told Reuters on Monday the government is hoping to raise up to the equivalent of $5 billion across the three currencies. (Reporting by Scott Murdoch in Sydney; Editing by Christian Schmollinger)