Featured

Finanzagentur green twins ready to take next step forward

The Federal Republic of Germany took the green bond market to a new level on 2 September with the launch of its first green Bund. Ahead of Germany’s first green bond auction on 4 November, Deutsche Finanzagentur co-CEO Dr Tammo Diemer discussed with Sustainabonds’ Neil Day its twin bond concept, how the pandemic has affected its activity, and the arrival of the EU in the sustainable bond market.

Green

Energy efficiency-default risk correlation bolsters EEMI

A building’s energy efficiency has a negative and highly significant correlation with the risk of mortgage default, according to an Energy Efficient Mortgage Initiative (EEMI) study, which it says is the fullest analysis of the subject and a timely finding as the European Commission sets out its post-Covid-19 agenda.

Deals

Berlin Hyp 10 hits high in wake of new green ambitions

Berlin Hyp achieved the highest bid-to-cover ratio of any German Pfandbrief this year on Tuesday when it reopened the post-summer covered bond market with its 10th benchmark green bond, a €500m 10 year deal launched in the wake of “ambitious” new sustainability targets, and followed it up with a Swiss franc debut on Thursday.

Deals

Deutsche debuts with €500m green bond after €200bn target set

Deutsche Bank entered the green bond market on Tuesday as part of a push towards a recently-announced €200bn sustainability target, with a €500m six year non-call five senior preferred deal that achieved a €4.5bn-plus book and pricing inside fair value, global head of issuance and securitisation Jonathan Blake told Sustainabonds.