EIB (AAA) taps Climate Awareness Bond (Nov 2019) for further EUR250m = largest green bond issued to date. 2/3 investors European, ¼ Nordic.

This week the EIB announced it is tapping its Climate Awareness Bond for a further EUR250m in an announcement that makes takes the bond up to at least EUR900m. This is the first time the EIB has tapped the 1.375% November 2019 bond.

It looks to be the largest climate labelled bond issued to date, eclipsing the IFC’s USD1bn climate bond issuance earlier in 2013. The minimum addition size is EUR250 but EIB hopes it will be up to EUR350m which would make it much larger that the IFC Green Bond.

Initial reports indicate that early book-building is going well and that the leads expect that it will reach EUR1bn.  Approximately 65% of the placement is going to Western European buyers, 25% Nordic and approximately 10% to the rest of the world. It was almost entirely presold to approximately 10 investors. Lead managers are Credit Agricole CIB, BofA Merrill Lynch, DZ Bank, LBBW, SEB and Unicredit.

2013 been a record-breaking year for labelled green bonds thus far, bravo EIB, keep those records tumbling!