Climate Bonds Blog

Climate Bonds is recruiting a Standards program coordinator

Posted: Aug 6, 2013

The Climate Bonds Initiative is looking for an energetic person to coordinate the Climate Bonds Standards program (governance, working group management, technical briefings, consultation, preparing information materials and providing advice to prospective issuers), and manage a other projects as opportunities arise.

We're a small team, so flexibility and self-direction are important. The position is based in London, UK. Salary: competitive NGO rate. Start: September.

Essential: depth of knowledge of low carbon and climate resilient solutions across economic sectors; self-direction; experience working internationally; flexibility and ability to act quickly.

Climate Bonds is recruiting a Standards program coordinator

China's Longyung Power issues 3yr, BBB-, $300m wind bond

Posted: Aug 6, 2013

FinanceAsia reports that China's state-owned Longyung Power, the country's biggest producer of wind power, has issued a 3 year, $300m bond, with a yield of 3.43%. The bond was under-subscribed; they had targeted $350m.

Buyers were 43% banks, 45% fund managers, 6% central banks and sovereign wealth funds and insurance funds, private banks 4% and insurance and pension funds only 2%. Goldmans Sachs and Wing Lung were the joint global coordinators, with Agriculture Bank of China, Citic Securities, Morgan Stanley and UBS all involved in the sale.

China's Longyung Power issues 3yr, BBB-, $300m wind bond

EIB does another Swedish Krona 400m climate bond ($60m)

Posted: Aug 2, 2013

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.

EIB does another Swedish Krona 400m climate bond ($60m)

Vanuatu lagoon musings / sunset for coal at EIB, WBnk, USExImBank / momentum for ‘Ditch Brown, Buy Green’

Posted: Jul 31, 2013

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:

Vanuatu lagoon musings / sunset for coal at EIB, WBnk, USExImBank / momentum for ‘Ditch Brown, Buy Green’

Invitation to Webinar on Bonds & Climate Change report, Thurs 15 Aug -- Sydney 17:00 / Hong Kong 15:00 / Delhi 12.30 / Dubai 11:00/ 9.00 Joh'burg / London 8:00

Posted: Jul 30, 2013

Join us for a presentation and discussion of our Bonds & Climate Change : the State of the Market 2013 report, commissioned by HSBC.

It will include a discussion with Nick Robins (HSBC) and Sean Kidney on hurdles and future potential.

The webinar is kindly hosted by the Principles for Responsible Investment

Report findings:

Total universe of climate themed bond market = USD356bn (outstanding)

The issuance of new climate-themed bonds was USD74bn in 2012, up 25% on 2011

USD163bn outstanding aligns with benchmark-type rules on credit rating, size & currency.

Invitation to Webinar on Bonds & Climate Change report, Thurs 15 Aug -- Sydney 17:00 / Hong Kong 15:00 / Delhi 12.30 / Dubai 11:00/ 9.00 Joh'burg / London 8:00

EIB goes again - 7yr, SEK750m ($115m) climate bond for Storebrand/SPP

Posted: Jul 22, 2013

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.

This follows on from the €650m Climate Awareness Bond they placed a week earlier. Go EIB!

EIB goes again - 7yr, SEK750m ($115m) climate bond for Storebrand/SPP

Buyer facts for EIB €650m climate / Climate Bonds Australia Pooled Funds meeting tomorrow / Adv Panel members Flannery & Mathews spread the word

Posted: Jul 15, 2013

Some further details about EIB's latest climate bond:

1. 60% of the entire transaction went to "socially responsible investors".

2. Investors were 32% from Benelux, 30% Germany, 22% France, 8% elsewhere in Europe and 8% from Asia. (UK investors don't make up much, falling into the 8% which make up the rest of Europe.)

3. Asset managers made up 38% of buyers, banks 35%, insurance and pension funds 15% and central banks and official institutions 13%.

4. It's the largest EUR denominated climate/green-labelled bond to date.

Buyer facts for EIB €650m climate / Climate Bonds Australia Pooled Funds meeting tomorrow / Adv Panel members Flannery & Mathews spread the word

EIB has just closed a 6yr €650m Climate "Awareness" Bond

Posted: Jul 11, 2013

The European Investment Bank, after a gap of 15 months, today issued a new AAA €650m Climate Awareness Bond. Coupon is 1.375%, underwriters were Bank of America Merrill Lynch, Credit Agricole, DZ Bank and UniCredit. The bond’s proceeds are linked to loans to eligible renewable energy and energy efficiency projects.

EIB has just closed a 6yr €650m Climate "Awareness" Bond

AfDB to issue $500m AAA green bond in Sept/Oct; arranger still to be selected

Posted: Jul 10, 2013

Environmental Finance today reports that the African Development Bank (AfDB) plans to issue a US$500 million AAA green bond in September or October. This would be AfDB's biggest green bond to date; they hope to start presenting to investors in coming weeks.

The AfDB has previously raised about $400 million through green bonds, via a number of small issues in the Japanase domestic Uridashi market.

An arranger has yet to be selected. That's a big opportunity for banks looking to establish their credentials in the space.

AfDB to issue $500m AAA green bond in Sept/Oct; arranger still to be selected

Bonds & CC: last few tickets left for London on Thurs / Frankfurt on Friday / webinars mid-July. Speakers incl. HSBC, S&P, Allianz, EIB, DZ

Posted: Jul 2, 2013

Our Bonds & Climate Change : the State of the Market 2013 report was released in Hong Kong in mid-June. We're now doing presentations for different markets.

London: We can fit just a couple more people into Thursday's London seminar with follow-up panel on Europe - hurdles and future potential. But you'll need to RSVP quickly. Teleconference facilities are available.

Time: 15:45 registration for 16:00 start. Drinks at 18:00. 4 July 2013. Venue: Eversheds 1 Wood Street, London EC2V 7WS

Bonds & CC: last few tickets left for London on Thurs / Frankfurt on Friday / webinars mid-July. Speakers incl. HSBC, S&P, Allianz, EIB, DZ

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