Deals

LBBW £500m SNP first shows green sterling development

Landesbank Baden-Württemberg (LBBW) issued the first green senior non-preferred sterling benchmark on 22 January, a £500m five year deal in which a maturing ESG UK investor base considered both LBBW’s green bond and issuer credentials, according to those involved in the deal.

Green

NordLB CBB in ‘eye-catching’ renewables covered bond first

NordLB Luxembourg Covered Bond Bank (NordLB CBB) attracted both ESG-focused and regular covered bond buyers to the first ever renewable energy covered bond last week, a €300m five year legislative deal that, the issuer told Sustainabonds, came surprisingly tight to its traditional issuance.

Initiatives

Green and social bonds roundtable: Making a public impact

The broader sustainability strategies of green and social bond issuers and the impact of their issuance across a range of metrics are increasingly being focused on. Meanwhile, new varieties of sustainable bonds could yield benefits, but complicate the picture. Sustainabonds gathered leading public sector issuers and ESG-focused investors for a roundtable, hosted by SFIL, to discuss key developments.

Deals

RBS pushes social agenda with €750m SME debut

The Royal Bank of Scotland Group issued the first bond from a UK financial institution aligned with the Social Bond Principles on 8 November, a €750m six year non-call five social bond with proceeds earmarked for SME lending in deprived parts of the UK.

ABN AMRO

Deals

Rabobank green SNP debut impresses on price, claims GBS first

Rabobank sold its first green senior non-preferred bond last week, a €750m seven year priced some 3bp through fair value, with the deal’s impressive outcome attributed largely to its green nature. The Dutch cooperative has also sought to make its transaction the first aligned with the latest draft of the EU Green Bond Standard.

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