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.

Green

EeMAP draws 37 pilots to test green mortgage framework

Thirty-seven banks with a 45% share of European mortgage lending are participating in the pilot scheme of the Energy Efficient Mortgages Initiative, which was launched yesterday (Thursday), under which they will test implementation of a new framework with a view to creating a final product.

Green

Hong Kong: Aspiring green gateway

2018 is proving a banner year for green bonds in Hong Kong, with the launch of certification and subsidy initiatives, and a planned green bond programme by the government. Ahead of co-hosting with ICMA the 2018 G&SBP AGM and conference, Enoch Fung, Head of the Market Development Division of the HKMA, spoke to Sustainabonds about Hong Kong’s green bond hopes.

Deals

Green STORM 2018 equals post-crisis tight in widening mart

Obvion Mortgages priced its third green residential mortgage-backed securities (RMBS) issue flat to a post-crisis Dutch RMBS tight on 19 May, and its head of balance sheet management and funding cited its green nature as helping a EUR550m senior tranche achieve the tight pricing against a widening backdrop.

Deals

DNB sets up green covered bonds after CBI-led SpaBol tweak

DNB Boligkreditt has established a green covered bond framework based on residential mortgages for the most energy efficient properties in Norway, after compatriot SpareBank 1 Boligkreditt tightened its criteria on the basis of feedback during its Climate Bonds Initiative certification process.