DKB sold a four times subscribed €500m five year “blue” social Pfandbrief focused on water and waste water services on Wednesday, with the Eurosystem and SRI investors among those helping the German issuer achieve an “outstanding” deal, according to its head of funding and IR.
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.
Sparebanken Sør Boligkreditt sold its first green covered bond on 17 October, a €500m seven year trade that inaugurates the first green and sustainability bond framework from a Norwegian bank, which takes in social activity in emerging markets, and a new green mortgage highlighted by an official at the issuer.
ING Bank Hipoteczny hopes to launch a debut euro benchmark covered bond in green format in the first half of 2020, after having inaugurated its covered bond programme with an upsized PLN400m green bond, which its CEO said will help move Poland’s housing sector forward in a green direction.
SR-Boligkreditt inaugurated a green bond framework with the first negative-yielding euro benchmark covered bond from the Nordics on Tuesday, while Sparebanken Sør Boligkreditt is set to follow with a green covered bond debut off the first Norwegian framework also targeting social goals.
Landesbank Baden-Württemberg inaugurated a social bond framework on 19 September, bringing its total sustainable bond issuance including green bonds to €3.7bn with a €500m senior non-preferred trade. The debut is the first social bond to be assessed against new ISS-oekom ESG KPIs for their contribution to related SDGs.
SpareBank 1 SMN inaugurated its green bond framework on 4 September with a EUR500m seven year senior preferred issue soon after it received an improved ESG rating from Sustainalytics, with its fisheries-related element welcomed by the Marine Stewardship Council.
Standard Chartered attracted over EUR3.4bn of orders for an inaugural sustainability bond on 25 June, building on a broader green and sustainable product framework to offer investors an uncommon opportunity to support the UN SDGs in the range of emerging markets the bank operates in.
Landesbank Baden-Württemberg issued its third green bond in just over two months on Wednesday, a EUR500m no-grow seven year senior non-preferred issue priced flat to where the German bank sold a EUR750m five year SNP transaction in mid-May.
Société Générale SFH issued the first French green covered bond last Monday, a EUR1bn 10 year issue that attracted over EUR2.5bn of orders, with proceeds earmarked for refinancing mortgages against low carbon residential buildings in the fifth “positive impact” bond from the group.