Deals

DKB no one-hit wonder as EUR500m follow-up prices tight

Deutsche Kreditbank head of treasury Thomas Pönisch attributed impressive pricing on its second green bond on Tuesday to the “green factor”, while the German lender extended its commitment to the market with a longer oekom agreement and a larger pool that could see a private placement follow.

Deals

Evidence on ‘greeniums’ mixed, but momentum promising

Green bonds do not yet offer cheaper funding than conventional comparables, according to a report from the Climate Bonds Initiative (CBI) and the International Finance Corporation (IFC), even if momentum reflected in moves from IPTs and secondary performance – notably on an Apple bond – suggests a positive future.

Deals

Garanti in TL305m green covered bond follow-up with EBRD

Garanti Bank is placing a TL305m (Eu75m) covered bond with the European Bank for Reconstruction & Development (EBRD), the Turkish bank announced today (Thursday), with a commitment to use the proceeds to lend green mortgages, in a follow-up to a similar bond placed with the IFC.

Deals

Nordea debut takes green bonds to new pricing records

Nordea took green bonds to a new tight with the launch of a EUR500m five year senior unsecured green debut on Monday that achieved pricing some 4bp through the Swedish group’s regular issuance and the lowest spread on any five year senior unsecured benchmark in a decade.

Deals

CRN plans only sustainable issuance after senior first

Caja Rural de Navarra intends to raise all new wholesale funding under a sustainability framework it inaugurated with a cédulas last November, according to its head of treasury, after the issuer sold its first senior unsecured deal under the framework and signed up to the Label.

Deals

Berlin Hyp hits foreign high as green buying grows

Berlin Hyp sold a higher share of a Eu500m long six year green Pfandbrief to foreign accounts than on any of its previous benchmark covered bonds, according to head of investor relations and sales Bodo Winkler, while adding accounts new to the credit and achieving tight pricing.