ING Group is a financial services group headquartered in Amsterdam and one of the largest in Europe.
ING NV in Netherlands, had previously issued a green bond in 2015 and in November 2018, they issued a Climate Bonds Certified Bond of combined size USD 2.95 billion.
Approximately half the bond proceeds will be spent to finance and refinance loans to 88 onshore and offshore wind farms, whilst 15% will be spent on the 29 solar farms. The remainder of the proceeds will be spent on buildings with an Energy Performance Certificate Label A and their emissions performance is within the best 15% of the Dutch market.
In October 2019, ING Bank Hipoteczny, in Poland, issued their first green covered bond relating to residential mortgages in Poland. These mortgages are linked to residential buildings are the top 15% best performing in terms of CO2 emissions, in Poland.
| ING | NAME OF BOND |
DATE OF ISSUE |
TYPE OF INSTRUMENT |
SIZE |
TENOR |
JURISDICTION OF ISSUE |
CLIMATE BONDS SECTOR CRITERIA |
VERIFIER'S REPORT |
ANNUAL REPORT | FURTHER INFORMATION |
| ING NV | ING Green Bond | November 2018 | Use of Proceeds Bond |
Two tranches 1) USD 1.25 billion 2) EUR 1.5 billion (USD 1.7 billion) |
1) 8 years 2) 12 years |
Netherlands |
Low Carbon Buildings Solar Wind Marine Renewable Energy |
pre issuance statement | ||
| ING Bank Hipoteczny | First Green Covered Bond | October 2019 | Covered Bond | PLN 400 million (USD 102 million) | 5 years | Poland | Low Carbon Buildings | pre issuance verification |