EBRD $250m climate bond closes / Norway's REC planning $110m 5yr convertible / We're looking for climate science-savvy interns

1. That EBRD AAA, 5 year "environmental sustainability" bond I blogged yesterday is out; proceeds go to climate related investments. See the EBRD announcement at http://goo.gl/8HwOBH. And check out their FAQ. Coupon is 1.625%. There were 14 buyers: 51% US, 31% European, 18% Asian. The sector allocation was: 64% to pension funds, 18% to central banks, 12% asset managers, 4% state-related investors, and less than 1% to bank treasuries and foundations.

2. Norwegian solar company Renewable Energy Corporation (REC) is about to issue a new 5 year convertible bond of up to US$110 million. Not sure what rate, but this is the below-investment-grade end of the climate bonds market - high risk but higher return. Have a look at past issuance.

3. We're looking for interns to do literature research around which investments are required for a rapid transition to a low-carbon economy in specific industrial sectors. If you're interested, please email bridget.boulle(at)climatebonds.net. If you can give us time in the next week we'll be very keen!