Berlin Hyp has opened up its green bond issuance to private placements ahead of the fifth anniversary of the launch of its pioneering green Pfandbrief today (Monday), with the German issuer having hit one year ahead of schedule a target of 20% of its lending being green by the end of 2020.
Investors have rallied to a wave of social-style bond issuance from supranationals aligned with the issuers’ role in the fight against the impact of the Covid-19 pandemic, providing at the same time a tonic for ailing fixed income markets. Neil Day explores the trend and the potential for such bonds.
The Nordic Investment Bank (NIB) last week inaugurated the first dedicated Covid-19 use-of-proceeds framework with a €1bn three year “Response Bond”, moving quickly to support the alleviation of societal and economic impacts of the crisis. Head of funding and IR Jens Hellerup discussed the rapid launch of the quasi-social bond with Sustainabonds.