Featured

Greening bank capital

Recent inaugural green senior non-preferred issues could represent the first green steps down the capital stack by financial institutions. Crédit Agricole CIB and our sister publication Bank+Insurance Hybrid Capital gathered together specialists in bank capital and green bonds to explore how green subordinated debt could work and help put the financial system on a path to sustainability.

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.

Featured

The Day After Tomorrow

Issuers wishing to win over investors with SRI mandates not only need to deliver green and social bonds, but must demonstrate how these fit into a broader sustainability strategy for the future — that was the key takeaway from a Sustainabonds roundtable hosted by SFIL in Paris on 24 May, where the market’s growth, EU initiatives, and pricing were debated.

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

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.