Stockland, Australia’s largest diversified property group has issued a EUR300m (US$380m), 7-yr green bond. The bond is rated A-, achieving a 1.5% coupon. Underwriters were HSBC and UBS, and the bond is listed on Singapore Stock Exchange.
Climate Bonds Blog
Posted: Oct 27, 2014
Stockland issues Australia’s first green bond! EUR300m (US$380m), 7yr, rated A-, 1.5% coupon. Proceeds for green buildings - but ratings used do not guarantee climate performance
Posted: Oct 24, 2014
Paris: Today, at the World Pensions & Investment Forum, Climate Bonds Initiative CEO Sean Kidney launched the Climate Bond Partners program to support investors, issuers and underwriters to grow the green and climate bonds market.
Sean Kidney said: "Our mission is to mobilize trillions from debt capital markets for climate solutions — for a rapid transition to a low carbon and climate resilient economy."
"Growing a large and liquid green bonds and climate bonds market is a key part of that; we're at $50 billion globally, but we need it to be much much larger. We're inviting organizations around the world to join with us to make that happen."
Climate Bonds Partners program launched at World Pensions & Investments Forum in Paris. Join the ranks of climate bonds supporters!
Posted: Oct 24, 2014
Innovatec, an Italian energy-efficiency and energy services company, issues a EUR15m (US$19m), 6-year green bond with coupon of 8.125%. Sole underwriter is JCI Capital. Innovatec is a fully controlled by Kinexia.
Kinexia’s Innovatec issues a EUR15m (US$19m) green bond, 6 yr, 8.125% coupon. Small in size, but high in yield! Higher yields is a sign of a maturing market
Posted: Oct 24, 2014
Abengoa Greenfield S.A, a subsidiary of Abengoa S.A., has issued two green high-yield bonds (i.e. below investment-grade) for a total of EUR500m equivalent. For those of you unfamiliar with the company, Abengoa’s operations are focused on renewable energy (solar and biofuels), electricity transmission, energy IT systems, desalination and wastewater treatment.
Finally Europe’s first high yield green bonds! Abengoa issues 2x 5yr bonds for a total of EUR500m ($340m) – ‘B’ & ‘NotRated’. Moving down the ratings is a sign of the green bonds market maturing
Posted: Oct 21, 2014
Credit Agricole CIB (CACIB) and Bank of America Merrill Lynch (BAML) overtook SEB in Q3 to take the top two spots in the underwriters League Table
Q3 Green Bond Underwriters League Table: Credit Agricole & BAML move ahead of SEB! Will Flensborg weep or cry with joy as 'his baby' takes off?
Posted: Oct 17, 2014
This month, Responsible Investor devoted their RI Insight report to Green Bonds: the future of sustainability financing. The report was prepared in association with the Climate Bonds Initiative and includes insights from: Bank of America Merrill Lynch, TIAA-CREF Asset Management, SEB, European Investment Bank, Skanska Financial Services, Oekom research, Vigeo, Sustainalytics, MSCI / Barclays, Bloomberg New Energy Finance, Länsförsäkringar AB, Actiam and the ICMA.
Responsible Investor blog: On three major risks to the market’s credibility; how standardization can help ensure that the green bonds market delivers on its potential
Posted: Oct 17, 2014
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.
SolarCity issues US$200m of retail bonds, maturity ranging from 1-7 years, coupon 2-4%. What a pioneering company! First public solar bond offering in the US, after also doing the first solar securitisation in 2013
Posted: Oct 15, 2014
October:
- 16 Oct 2014 (yes tomorrow) – Geneva – UNEP Finance Initiative’s Principles for Sustainable Insurance (PSI) event, An international conversation on the insurance industry and sustainable development. Sean Kidney will speak on: Investing in sustainable development: Insurers and green bonds, 10 am
FYR: Climate Bonds schedule of upcoming speeches - lots of opportunities to hear about developments
Posted: Oct 15, 2014
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.
Zurich Insurance CIO Cecilia Reyes calls for clear definitions of green in green bond market; S&P's Wilkins backs her up with a call for green standards
Posted: Oct 14, 2014
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.
Swedish municipality Örebro issues a SEK750m (US$104m), 5 yr, AA+ green bond - the flow of Scandinavian green bonds continues!