SpareBank 1 Bolgikreditt launched the largest single-tranche green bank bond outside China and the first green benchmark covered bond with residential mortgages on Tuesday, a EUR1bn deal made possible by taking building codes and years as a proxy for energy efficiency – a strategy that could be used by others.
SpareBank 1 Boligkreditt is preparing to issue an inaugural, euro benchmark green covered bond – the first from outside Germany – targeting the growing SRI investor base and aiming to highlight and enhance its member banks’ commitment to sustainability, SpaBol’s Eivind Hegelstad told Sustainabonds.
A first offshore public benchmark Climate Bond for Westpac on 16 November allowed the issuer to access the more mature European SRI investor base, according to a funding official at the Australian bank, after it emphasised its sustainability track record on a roadshow for the EUR500m seven year green bond.
LBBW sold the largest green bond from a European bank on Tuesday, a Eu750m four year senior unsecured debut at the tightest spread of any German senior benchmark, inaugurating a framework from which it can also issue covered bonds and that incorporates a new asset eligibility methodology.
A debut EUR500m green Pfandbrief for Deutsche Hypo went “perfectly” yesterday (Thursday), according to head of funding and investor relations Jürgen Klebe, who said the deal reflected green moves in the bank and helps prepare for a post-CBPP3 market, with annual issuance planned.
HSBC Holdings inaugurated a new Sustainable Development Goal (SDG) bond framework on Wednesday that aligns with seven of the UN targets, selling a $1bn six year non-call five HoldCo deal.
Westpac sold its first offshore Climate Bond yesterday (Thursday), a EUR500m seven year senior unsecured deal, and its green status was deemed to have aided pricing in a weaker market and versus recent comparable Australian supply.
QBE issued the first capital instrument from a financial institution to take the form of a social bond on 9 November, a US$400m Additional Tier 1 gender equality bond that attracted some US$9.5bn of orders.
QBE put gender equality centre stage when it sold the first capital instrument from a financial institution to be in social bond format on 9 November. Here, QBE group treasurer Paul Byrne discusses the inspiration for the landmark and its execution.
Barclays became the first UK bank to issue a green bond yesterday (Monday), selling a EUR500m six year non-call five HoldCo issue flat to fair value in a strong credit market, shortly after the UK government established a green finance taskforce of which the issuer is a member.