Following the continued success of their EUR “Climate Awareness Bonds”, EIB has now issued a USD green bond.
European investors yesterday snapped up a new Euro denominated “Climate Awareness Bond” from EIB. With double the tenor of the EIB’s 2013 6yr issuance this bond provides a longer time horizon for investors that reflects “the duration of renewable energy and energy efficiency projects”.
The European Investment Bank (EIB) this week placed a 7 year, SEK400m ($60m) Climate Awareness Bond with Scandinavian investors. Coupon was 3-Month STIBOR +43bp. Lead manager was Danske Bank.
I’m writing beside a beautiful lagoon on the tropical South Pacific island of Espiritu Santo, not far from where I was born and spent my early years.
Working on climate change introduces a note of melancholia to such holidays: how long before my waterside bungalow gets washed away in more extreme storm surges and rising sea levels? Does that bizarre tubular jellyfish that I managed to avoid snorkelling today represent the new dominant as oceans acidify?
At least there is good news on the energy front:
On Friday the EIB placed a 7 year, SEK750m Climate Awareness Bond with Norwegian pensions/insurance company Storebrand SPP. Coupon was 3-Month STIBOR +43bp.
