By Beate Sonerud, Climate Bonds Initiative policy analyst
SolarCity is issuing US$200m of asset-linked retail bonds, with maturities ranging from 1-7 years and interest rates from 2-4%. Wells Fargo is the banking partner. While the bonds are registered,SolarCity expects the bonds to be “buy and hold”, and not traded in the secondary markets.
Speaking yesterday at this week's Reuters Global Climate Change Summit in London, Zurich Insurance CIO Cecilia Reyes said that the integrity of the fast-growing green bond market is at risk unless a clear definition of what passes for green can be agreed.
By Beate Sonerud, Climate Bonds Initiative policy analyst
Örebro, a Swedish municipality, has issued a SEK750m (cUS$104m) green bond. The bond has 5-year tenor and is rated AA+ by S&P. The bond was developed with SEB. Investors included SPP, AMF, Carnegie, Cliens and Länsförsäkringar Jönköping.
藤井良広氏は上智大学大学院地球環境学研究科教授。
Following the continued success of their EUR “Climate Awareness Bonds”, EIB has now issued a USD green bond. The US $1bn bond has a maturity of 10 years - they're pushing terms out with this and their EUR 12 year bond - and a 2.5% interest rate.
In Frankfurt yesterday I met with the KFW (Germany’s development bank) Capital Markets team, who ran through their latest green bond in USD. A strong result.
A note for our readers in Japan, marking the importance of the Development Bank of Japan green bond.
日本政策投資銀行（DBJ）が日本の発行体として初のグリーンボンドを発行した。発行額は2億5,000万ユーロ（3億1,500万ドル）、表面利率0.25%、償還期限3年。ムーディーズ及びS&Pの格付けはそれぞれAa3、A+。応札倍率は3倍以上の7億5,000万ユーロ以上で、日本のグリーンボンドに対する非常に強い投資家需要を確認した格好だ。引受主幹事はバンク・オブ・アメリカ・メリルリンチ、モルガンスタンレー、シティ、大和証券。同債券は外部認証機関DNV-GLより認証を受けている。
調達資金はDBJ Green Building認証システムに基づくグリーン不動産5件へ融資される。同行の認証システムでは社会面、災害予防・管理面に加え、エネルギー効率、節水、水資源の再利用等で不動産を評価する。
Development Bank of Japan (DBJ) has issued the first green bond from a Japanese issuer; EUR 250m with a 0.25% coupon and 3 year tenor. Moody’s and S&P have rated the bond Aa3 and A+ respectively. The bond was over three times subscribed – EUR 750m! – making it clear that there’s strong investor demand for Japanese green bonds. Underwriters were Bank of America Merrill Lynch, Morgan Stanley, Citi and Daiwa. The Second Opinion was by DNV-GL.
Incoming European Commissioners have to run the gauntlet of European Parliamentary committees to be confirmed in their jobs, a bit like nominated senior officials of the US Administration.
