Deals

EM SDG impact helps StanChart sustainability debut fly

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.

Deals

New green high for Berlin Hyp at 2019 covered bond tight

Berlin Hyp sold over half a EUR500m eight year green Pfandbrief to investors classified as green at the tightest spread of any euro benchmark covered bond this year on Wednesday, in what head of funding and IR Bodo Winkler hailed as an amazing result, even if yield moves made pricing “a little bizarre”.

Green

TEG taxonomy report tees up ‘common language’

Stakeholders have largely welcomed the release of long-awaited green EU taxonomy proposals, which attempt to lay down green criteria to support sustainable finance, but opinions were divided over the extent to which weaknesses in the first draft had been addressed.

Deals

Bumper dollar covered first highlights LBBW green ambition

Landesbank Baden-Württemberg aims to build green benchmark curves, after having expanded and more than doubled its green bond portfolio, and wrapped up EUR750m senior and $750m covered bonds in the space of a week, the latter – the first dollar green covered bond – attracting unusually strong demand inside fair value.

Green

Berlin Hyp drills down to building CO2, gifts ‘Green Pfandbrief’

Berlin Hyp has enhanced its green bond reporting by calculating carbon emission savings based on the specific energy mix of buildings in its green finance portfolio, in what is understood to be a first for a green bond issuer. The lender has meanwhile transferred its Green Pfandbrief brand to support the Association of German Pfandbrief Banks in promoting the product.

Deals

La Banque Postale doubles buyers in green SNP debut

La Banque Postale inaugurated a green, social and sustainability bond framework last week and attracted twice as many investors to the EUR750m 10 year green senior non-preferred bond than its last conventional SNP. Issuance in social and covered bond formats is set to follow.