Help on issuing green city bonds is at hand! We've launched a Green Municipal Bonds Playbook through our US Green City Bond Coalition to give guidance to prospective issuers on how to tap into the rapidly growing green muni bond market.
Available for download, the Playbook includes:
Development Bank green bonds
IFC issued green masala bond for INR 3.15bn ($49.4m) (5-yr, 6.15%, AAA) with proceeds used to invest in Yes bank’s domestic green bond
Join us for a presentation on the updated version of the Climate Bond Standard V2.0 (now out for public consultation) and the latest developments in low carbon criteria including a discussion with NAB on their experience issuing and arranging climate bonds.
Corporate green bonds
Second green bond from TerraForm to finance wind power acquisition, $300m 10yr, 6.125% s/a coupon, BB-/B1
The green bond market stepped up a gear in Q2 with $11.9bn of deals; up from $7.1bn in Q1. Behind this resurgence of issuance are the underwriter banks that arrange and facilitate the green deals.
Top of the table in this busy Q2 is Bank of America Merrill Lynch, underwriting just over $2bn green bonds in the quarter. It’s not the first time BAML takes one of the leading green bond underwriter spots: last quarter the Bank was the third biggest green bond underwriter, and for 2014 as a whole it came in second.
We’re recruiting for the following positions:
1. Communications & Marketing manager
We're looking for an experienced individual to take charge of marketing and communications.
Key Tasks:
Read full job description here
2. Market Analyst
We're looking for another Market Analyst to assist with our green and climate bonds database and associated work streams.
Key tasks:
Please join us for presentation and discussion of the 2015 HSBC and Climate Bonds Initiative report Bonds and Climate Change: the state of the market in 2015.
The report analyses the full $597.7bn universe of bonds where proceeds are used to finance climate change solutions, measuring both the fast-growing labelled green bond universe and much larger unlabelled climate aligned universe.
The webinars will include presentation of report findings by:
Times:
In June, journalists highlighted the game-changing role that China will play when it finally embraces the green bond market, as well as the need for universal standards in the green space. We also saw quite a few sceptical green bond stories that raised the question of ‘additionality’ and whether the recent flat pace of growth spells the end of the ‘green bond explosion’.
Market analysis
The first labelled green bond from a Chinese issuer (denominated in US$ and issued in Hong Kong) just closed, and all we can say is WOW! The wind energy firm Xinjiang Goldwind Science & Technology issued a $300 million green bond (3yr tenor) and received orders of $1.4 billion! Talk about proof of investor demand.
We’ve had an overwhelming response to our invitations for upcoming talks on ‘Bonds and Climate Change: the state of the market in 2015’. The Mexico City event has sold out with +200 attending. In London we sold out; then, thanks to our hosts Norton Rose, found a much larger theatre - but we’re on the verge of closing the list again! We are still accepting registrations but be quick.
