Deals

Hesse levels up Länder as €1.5bn 10s evince greenium

The State of Hesse on Tuesday printed the largest green bond from a European region, a €1.5bn 10 year that attracted over €6bn of orders and more accounts than on any previous Hessian issue, with the level of demand and greenium of at least 1bp seen as testament to its credentials and efforts.

Deals

Affordable housing, hospital themes for CFF social debut

CFF yesterday issued an inaugural issue of social obligations foncières supporting social housing and healthcare under the BPCE group’s sustainable development bond programme, a €500m long five year deal that bankers said “unblocked” the euro benchmark covered bond market.

Deals

Social interest ‘encouraging’ in smooth Berlin Hyp reopener

Berlin Hyp issued the post-summer reopening euro benchmark covered bond for a fifth consecutive year on Wednesday, and Bodo Winkler, head of funding and investor relations at the issuer, told Sustainabonds that interest in social bonds now appears to be almost on a par with green.

Green

‘Delayed’ EBA work set to take in green amid ECB focus

The European Commission could expand the European Banking Authority’s mandates for follow-up work on the EU covered bond directive to include recommendations on green covered bonds, which were a key topic for the European Central Bank at a recent Helsinki European Covered Bond Council plenary.

Green

GBP, EBA updates raise green covered bond questions

The European Covered Bond Council is working on a definition of green covered bonds aimed at reflecting the distinct characteristics of the instrument to ensure its appropriate treatment in incoming regulations, and following a Green Bond Principles update deemed contradictory to its core feature by some.

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Featured

Hesse set to sustain Länder leader status in Green Bond III

The State of Hesse has been a frontrunner among sub-sovereign GSS bond issuers, and its planned third green bond promises to be its biggest and broadest yet. Anna Beil, Tanja Czymek and Alexander Labermeier of the Ministry of Finance of the State of Hesse, and Patrick Seifert at joint lead LBBW, spoke to Sustainabonds about the German state’s sustainability achievements and ambitions, and how green bonds complement its wider activities.