Deals

Deutsche Kreditbank readies social covered bond debut

Deutsche Kreditbank (DKB) is preparing to issue an inaugural social covered bond, the leading green bond issuer having yesterday (Wednesday) announced a roadshow for a EUR500m issue backed by loans to public sector entities, which will be its first benchmark covered bond in three years.

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.