The World Bank Green Bond we told you about last week ended up closing at EUR550 million rather than the expected EUR400 million on the back of strong demand.
The bonds were placed with 21 investors, including Aegon, AP2, Barclays Treasury, Blackrock, Caisse Centrale de Reassurance, Ikea Group, Pictet, SEB Asset Management, SNS Asset Management, Standish Mellon Asset Management Company LLC, Zurich Insurance Group and Zwitserleven. It seems all the investors were interested in the climate aspects of the bond.
Bank treasuries and corporates bought 42%, asset managers 22%, insurance companies 19%, official institutions 9%, and pension funds 8%. European investors took 90%, investors in the Americas 10%.
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The European Bank of Reconstruction and Development (EBRD) last week issued two smaller AAA "sustainability" bonds for private placement, a NZD12 million and BRL 93 million bond. Not a lot more detail available at this stage.
