The National Australia Bank (NAB) is one of largest banks in Australia.
Their bond in 2014 was one of the first Certified Climate Bonds and the fact that it was issued by a large bank gave
The bond closed on the 8th December 2014 after doubling in size due to strong investors demand. Proceeds of the $300 million bond will fund a portfolio of 17 wind and solar energy farms. 14 of these are operational and three are under construction. The assets will total an aggregate installed capacity of 1.5 gigawatts of electricity across Victoria, South Australia, Tasmania, Western Australia, NSW and the ACT.
They issued again, in 2017, with an offshore bond through their UK operations, with an even larger issuance. Proceeds will refinance loans made to wind and solar generation assets in the UK and railways systems in Australia.
In February 2018, they set up a Residential Mortgage Backed Securities Trust in order to issue a green bond to finance their residential mortgages which are linked to low carbon homes which meet the Climate Bonds Standard Criteria.
In June 2018, they updated their Green Bond Framework to explain how their low carbon financing will help with the SDGs (Sustainable Development Goals). This will involve a whole suite of financing for renewable energy developments, low carbon buildings and low carbon transport.
In June 2018, they issued a "Low Carbon Portfolio Notes" bond that refinances a pool of loans they have made to renewable energy developers. This bond allows other types of investors to link into the renewable energy developers in Australia.
NAB has released many regular reports and updates regarding their bonds, after issuance.
In March 2019, a subsidiary of NAB, UBank, launched a short term fixed deposit product which is linked to NAB's Certified asset portfolio. This allows retail investors to invest a minimum of AUD 1000 into deposit terms of up to 12 months. More information can be found here and in this news article.
|NAME OF BOND (if any)||TYPE OF INSTRUMENT||
|ANNUAL REPORT||FURTHER INFORMATION|
|Use of proceeds bond||AUD 300m (USD 246m)||7 years||Australia||Wind
|DNV GL pre issue report||NAB Green Bonds website|
|NAB UK GMTN||Use of proceeds bond||5 years||United Kingdom|
|February 2018||National RMBS Trust 2018-1||Securitized Bond||AUD 300m (USD 234m)||31 years||Australia||Low Carbon Buildings (Residential)||DNV GL pre issue report||
This instrument was issued through a separate vehicle - National RMBS Trust 2018-1
|June 2018||SDG Green Bond||Use of proceeds bond||USD 750m||5 years||Australia||Wind, Solar, Marine Renewable Energy, Low Carbon Transport, Low Carbon Buildings (Commercial)||DNV GL pre issue report|
|June 2018||Low Carbon Portfolio Notes||Securitized Bond||AUD 200m (USD 148m)||10 years||Australia||Wind, Solar||
|August 2018||SDG Green Bond||Use of proceeds bond||EUR 750m (USD 878m)||5 years||Australia||Wind, Solar, Marine Renewable Energy, Low Carbon Transport, Low Carbon Buildings (Commercial)||
|NAB Green Bonds Website|
Ubank (subsidiary of National Australia Bank) Green Term Deposit
Note 1: pre issuance report is same as June 2018 SDG bond, because programmatic Certification
Read the announcement of the bond in 2014 and watch the interview with Steve Lambert, NAB Executive GM.