Deals

Deutsche Hypo ‘proud’ of green covered bond entry

A debut EUR500m green Pfandbrief for Deutsche Hypo went “perfectly” yesterday (Thursday), according to head of funding and investor relations Jürgen Klebe, who said the deal reflected green moves in the bank and helps prepare for a post-CBPP3 market, with annual issuance planned.

Initiatives

European Green Securities Steering Committee sets out priorities

The European Green Securities Steering Committee – an industry-wide committee jointly convened by the Climate Bonds Initiative and the European Covered Bond Council, with the support of the UNEP Inquiry – mapped its priorities for the coming 12 months at an inaugural meeting last Thursday (29 June).

Deals

CRN plans only sustainable issuance after senior first

Caja Rural de Navarra intends to raise all new wholesale funding under a sustainability framework it inaugurated with a cédulas last November, according to its head of treasury, after the issuer sold its first senior unsecured deal under the framework and signed up to the Label.

Deals

Berlin Hyp hits foreign high as green buying grows

Berlin Hyp sold a higher share of a Eu500m long six year green Pfandbrief to foreign accounts than on any of its previous benchmark covered bonds, according to head of investor relations and sales Bodo Winkler, while adding accounts new to the credit and achieving tight pricing.

Initiatives

Sticky green money, QE exit could boost covered bond interest

The green and social covered bond markets have considerable potential for growth, according to panellists at an ICMA CBIC/The CBR conference, with a leading investor highlighting his appetite for more paper and “sticky green money” available, but the impact of QE and a lack of data is holding issuers back.