Green

Rabobank pushes ESG status as touchstone in CP/CD first

Rabobank has launched a EUR5bn “ESG Leader” commercial paper and certificates of deposit programme that it can only issue off as long as it is ranked in the top 5% of companies by Sustainalytics, and an official at the Dutch issuer told Sustainabonds that the first sale already offered it a cost saving.

Green

Moody’s slashes green bond forecast but covered a bright spot

The green bond market could grow by as little as 13% this year, according to Moody’s, which has slashed its forecast after having previously anticipated a 60% rise in issuance. The rating agency nevertheless noted increases in sustainable and social bond issuance, and highlighted covered bonds’ potential.

ABN AMRO

Green

MünchenerHyp to add green bonds as greenies play down costs

Sustainable covered bond pioneer MünchenerHyp is working on a distinct green bond framework to accompany its prior social framework, in a move driven by investor preferences. Proponents have meanwhile denied a claim green bonds are a “lose-lose”, pointing to new issuer-investor benefits.

Deals

KBC HoldCo green debut outdoes conventionals as market ripens

KBC joined the green bond market with a more than thrice-subscribed EUR500m debut on Wednesday, to give green financing power to its clients, according to a KBC official. The senior HoldCo deal was also priced with a substantially smaller premium than recent conventional supply despite markets having been choppy.

Deals

Austria’s RBI hits road for green senior debut

Raiffeisen Bank International (RBI) is preparing to issue an inaugural green senior unsecured benchmark, embarking on a European roadshow today (Friday), in the latest step of a sustainability strategy that, it says, is based on the principles of group’s 19th century namesake.

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Featured

Greening bank capital

Recent inaugural green senior non-preferred issues could represent the first green steps down the capital stack by financial institutions. Crédit Agricole CIB and our sister publication Bank+Insurance Hybrid Capital gathered together specialists in bank capital and green bonds to explore how green subordinated debt could work and help put the financial system on a path to sustainability.

Why Sustainabonds?

Bringing you coverage of the deals and initiatives from the banking sector that are shaping green and social bond markets, with a focus on housing, buildings and energy. Whether issuer or investor, regulator or banker, we hope you will find this free resource valuable.