The forum will explore green bonds opportunities in Brazil, with speakers from the Brazilian Ministry of Finance, Iberdrola and BNDES. If you're in Sao Paulo next week, please do join me.
Climate Bonds Blog
Posted: Nov 26, 2014
Green Bonds Brazil Forum: São Paulo, 4 Dec 2014. How to create a green bonds market in the largest Latin American state.
Posted: Nov 26, 2014
Due to an overwhelming demand we're opening a second date for the Green bonds 2014 year-end webinar: Green bonds 2014 - how and why the green bond market has trebled in size.
Tuesday, 17 December 2014: London 9 am, Frankfurt 10 am, Jo’burg 11 am, Dubai 1 pm, Delhi 2.30 pm, Jakarta 4 pm, Hong Kong & Beijing 5 pm, Seoul & Tokyo 6 pm, Sydney 8 pm.
Climate Bonds CEO Sean Kidney and Market Analyst Tess Olsen-Rong will discuss market developments in 2014 and prospects going forward. One hour long, free to attend. There'll be time for questions at the end.
Green bonds 2014 webinar ‘sold out’ in 1 day! 2nd date now open: Wed 17 Dec, London 9am, Hong Kong 5pm, Sydney 8pm, Jo’burg 11am, Delhi 2.30pm. Free.
Posted: Nov 26, 2014
Here is a quick summary of two interesting repeat issuances from the last few weeks.
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World Bank issued a USD 50m 2 year callable green bond to meet investor demand from California State Teachers Retirement System (CalSTRS). The coupon is floating at 3-month USD LIBOR + 0.10% per annum. The sole underwriter for the deal was Barclays.
A couple of repeat issuances to note; World Bank green bond for CalSTRS - $50m; and OPIC issue two Green Guaranties - $24.4m & $2.1m
Posted: Nov 25, 2014
Climate Bonds Initiative and the Network for Sustainable Financial Markets invites you to join a year-end webinar on green bonds on the 16th of December: Green bonds 2014 - Year round up - how and why the green bond market has trebled in size this year
Timing: New York 12 pm / San Francisco 9 am / Chicago & Mexico City 11 am / Sao Paulo 3 pm / London 5 pm / Frankfurt 6 pm
CBI chair Sean Kidney and CBI Market Analyst Tess Olsen-Rong will cover key market developments in 2014 and discuss:
Invite to Green bonds 2014 year-end webinar: Tue 16 Dec -- New York 12 pm / San Francisco 9 am / Chicago & Mexico City 11 am / Sao Paulo 3 pm / London 5 pm
Posted: Nov 25, 2014
There's really only a couple of bond-issuing weeks left, so we may yet fall short of target! Still, I guess we've already seen the market more than triple last year's issuance ...
US$34.3bn of (oversubscribed) green bonds so far this year. I'm biting my nails: will we make $40bn? Come on issuers!
Posted: Nov 22, 2014
Martha’s Vineyard Land Bank (MV Land Bank), the Massachusetts-based municipal bank, has issued US$35m of AA-rated green bonds. The bond has a range of maturities from 5 to 20 years, with semi-annual coupons ranging from 3.25 to 5%. This first green offering from MV Land Bank is callable, and exempt from federal and state tax, as is common for municipal bonds in the US. RBC Capital Markets was underwriter for the bonds.
Martha’s Vineyard Land Bank issues green muni bond ($35m, 5-20 years, AA-rated) – it’s green, but not climate: Proceeds go to purchase of properties and land
Posted: Nov 21, 2014
Canada’s Northland Power issued an asset-backed bond (ABS) last month through a SPV (Northland Power Solar Finance One LP). The amortising bond was a private placement of CA$232m with 18-year tenor. Semi-annual coupon is 4.397% and DBRS (Canadian credit rating agency) rated the issue BBB.
New Canadian Climate bond: Northland Power releases a pretty big ABS - CA$232m (US$206m) - backed by solar projects with proceeds for renewables. 18-year tenor, 4.397% coupon, BBB. Securitisation key future area for green bonds.
Posted: Nov 20, 2014
Join us in Washington D.C for a roundtable discussion on standards for green bonds on Thursday, 11th of December 2014 at 11 am; Climate Bonds Standard – helping the green bonds market deliver on its potential.
2014 has seen an explosion in green bonds issuance – over $34 billion have been issued this year alone tripling the 2013 figure and raising the 2015 expectations to $100 billion. New issuers, new investors and first-ever market indices prove that green bonds have a real potential to shift substantial capital towards investments that bring the world on the road to a low carbon and climate resilient economy.
Save the date: 11 Dec, Washington D.C. - Roundtable discussion: 'Climate Bonds Standard – helping the green bonds market deliver on its potential'. Request an invite, spaces are limited!
Posted: Nov 19, 2014
Beijing: Today, air quality is merely seven times WHO maximum safe limits. A relatively good day for this city. This year I’ve been yo-yoing to China working on how to develop green finance and green bonds in the country, much of which has been part of projects convened by Simon Zadek, co-Director of the UNEP Inquiry into the Design of a Sustainable Financial System.
Report from Beijing: PBoC Chief Economist Ma Jun’s green finance workgroups close to the finish line -ambitious proposals on the table
Posted: Nov 19, 2014
Austrian power company Verbund AG released a EUR 500m ($623m) green bond last week. The use of proceeds bond is rated BBB+ by S&P and has a 10 year tenor. The joint lead managers for the deal were Commerzbank AG, JP Morgan, Raiffeisen Bank International, Societe Generale and UniCredit Bank Austria AG.
Austria’s first green bond from power company Verbund AG - EUR 500m($623m), coupon 1.5%, 10yr tenor, BBB+, proceeds to fund Wind (compliant with Climate Bonds Standard) & EE in Hydro