Hard in the heels of the IFC’s US$200 million Green Bond last month, comes the AAA-rated European Investment Bank (EIB) with a third issue of its “Climate Awareness Bonds”.
Denominated in Australian dollars and South African Rand, yesterday’s issue is for the equivalent of €300 million. They will be sold largely to Japanese retail and institutional investors.
Bond proceeds will be ring-fenced for the EIB’s renewable energy and energy efficiency lending programs. Lead manager is Daiwa Securities.
In the past three years EIB has raised almost €1 billion with Climate Awareness Bonds.
This is the second EIB issue this year that’s been ring-fenced for climate programs. In February 2010 the EIB issued "Earth's Future Bonds", also aimed at Japanese investors. Lead manager was HSBC. Although the EIB haven’t disclosed the amount issued, except to say there were available in three currencies, IFR Asia estimates the total at EUR 150+ million.
