The Overseas Private Investment Corporation (OPIC) is the US government’s development finance institution. It has just issued $47.3m of something called “Green Guaranties”, also known as government-guaranteed Certificates of Participation (CoP)". The interest rate is 3.28%, tenor is 15 years and Bank of America Merrill Lynch was the underwriter.
Climate Bonds Blog
Posted: Sep 25, 2014
Now here's something to like: OPIC issues $47.3m green project bond with a guarantee. Good example of how rich world can assist developing.
Posted: Sep 24, 2014
It's the day after the UN Climate Summit party in New York. Yes I do feel as if I'm hungover; but it was a gas. If you're one of those who worry about the world, there is something magical in being inside the totemic General Assembly, with its embodiment of one world idealism.
Ban Ki Moon's audacious Summit convening (that's really the only power we allow him) made for a really useful event: it bought out marchers around the world to ask their governments for action; and it extracted some useful new commitments, such as:
Electric Climate Finance session at UN Summit: insurers go wild with promises; investors plead for green investments; Jim Kim almost breaks out in song about green bonds
Posted: Sep 24, 2014
Massachusetts closed their second green bond last night. They were nearly 3x oversubscribed!
Meanwhile, in the real world, Mass $350m green bond is 3x oversubscribed, and California upsizes its green bond from $200m to $300m. To think they were nervous!
Posted: Sep 23, 2014
+ Green Bond commitments announcement for next 12 months by issuers, banks and investors
At the UN Climate Summit in New York, today: Investors representing over two trillion dollars of assets under management today issued an Investor Statement on Green Bonds and Climate Bonds, committing to grow a global market in the financing of climate change solutions. At the same a group of 13 development banks, investors and issuers committed themselves to further developing the Green Bonds market.
USD2tn of investors back Green & Climate Bonds to tap USD100tn bond market for climate solutions, call on corps & govts to deliver projects for finance
Posted: Sep 23, 2014
Wir veröffentlichen erstmals in deutscher Sprache aufgrund der Bedeutung dieser Entwicklung im PfandbriefmarktDie Münchener Hypothekenbank eG hat gerade eine "ESG-markierten" Pfandbrief (Covered Bond) zur Refinanzierung von Darlehen an Wohnbaugenossenschaften emittiert.
MünchenerHyp eröffnet den Markt mit dem ersten thematischen Pfandbrief! 300 Mio EUR ($ 389 Mio.) Aaa 5yr, für den genossenschaftlichen Wohungsbau. Emission 1,6-fach überzeichnet. Es ist der Prototyp für einen grünen Pfandrbief - endlich!
Posted: Sep 22, 2014
Münchener Hypothekenbank eG has just issued an “ESG-labelled” covered bond (or Pfandbriefe, as covered bonds are called in Germany) for refinancing of housing cooperatives. Oekom Research provided a second opinion on the “social” benefits – you can find it on our web site.
MünchenerHyp cracks first thematic covered bond! EUR300m ($389m) Aaa 5yr, for coop housing. 1.6x oversubscribed. It’s the prototype for a Green Pfandbrief – at last!
Posted: Sep 20, 2014
This week I'm in San Francisco, speaking about the green bonds market and where it's going at events kindly convened by the California State Treasurer's Office and the California State Controller's Office.
This is the same week that the State Treasurer's Office is out in the market with the first California Green Bond (fully aligned with the Climate Bonds Taxonomy).
Then, as I arrive in Sacramento to visit the Treasurer's Office. I'm told they've just bought a $250 million World Bank green bond! They're the sole investor. This certainly is California's week.
California isn’t just issuing green bonds – it's buying them too! World Bank issues $250m bond solely for California State Treasurer's Office, 2yr, AAA
Posted: Sep 20, 2014
The European Investment Bank (EIB) last week increased the issuance of its Climate Awareness bond due 2026 to EUR 750m.
EIB taps 2026 EUR bond for as a further EUR 250m ($323m) just 7 days after issue
Posted: Sep 17, 2014
Solar financier Big60Million Ltd today announced that the first Certified Climate Bond in the UK, a “mini bond” of £4 million, was in the market. The bond closes 30 September; they expect to issue further tranches in the near future.
Big60Million launches UK’s first certified climate bond
Posted: Sep 16, 2014
A bit over a week ago the EIB launched a ZAR 400m (EUR 29m) tap of the 6.75% Climate Awareness Bond. Joint lead managers: Citi and Morgan Stanley.
Littlie from EIB: Rand 400m ($29m) tap of big bertha Climate Awareness Bond