Green

Rabobank pushes ESG status as touchstone in CP/CD first

Rabobank has launched a EUR5bn “ESG Leader” commercial paper and certificates of deposit programme that it can only issue off as long as it is ranked in the top 5% of companies by Sustainalytics, and an official at the Dutch issuer told Sustainabonds that the first sale already offered it a cost saving.

Green

Moody’s slashes green bond forecast but covered a bright spot

The green bond market could grow by as little as 13% this year, according to Moody’s, which has slashed its forecast after having previously anticipated a 60% rise in issuance. The rating agency nevertheless noted increases in sustainable and social bond issuance, and highlighted covered bonds’ potential.

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.