Green Bonds Market Summary - Q3 2017

Green Bonds Market Summary: Q3 2017

The green bond market has kept its strong pace in Q3 2017. On September 28th, the total amount of green bonds issued in 2017 ytd (USD83.2bn) overtook last year’s total issuance of USD81.6bn.

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The top sources of issuance were Mexico (USD4bn), China (USD3.9bn), France (USD3.3bn), U.S. (USD2.8bn) and India (USD1.9bn).

Mexico was a surprising addition to the number one spot, after issuing no green bonds in Q1 or Q2 2017. 

24% of new issuers were from China and 18% from the U.S. Firsts from both Malaysia (Tadau Energy) and Lithuania (Lietuvos Energija) further expanded the geographic diversity of the market. 

 

Key figures:

  • Issuance: USD27.7bn bringing the 2017 total to USD85.2bn
  • Second largest quarter of issuance ever
  • 75 green bond deals from 65 issuers, with 52% being first-time issuers
  • Green Bond transactions accounted for approximately 2.7% of global bond market transactions
  • Top 5 largest issuers of Q3: Mexico City Airport (USD4bn), Engie (USD1.5bn), EIB (USD1.4bn), Asian Development Bank (USD1.25bn), TD Bank and Greenko equally placed (USD1bn each)

Underwriters League Table Q3

The table shows Citi, HSBC and JP Morgan taking top spots for Q3 with JP Morgan the biggest mover from the combined Q1/Q2 table.  In amongst the other familiar faces, Canadian based TD Securities and RBC Capital Markets debut and National Australia Bank makes an appearance in the No15 position. 

The League table data is produced via a collaboration between Climate Bonds and Thomson Reuters. Information on Thomson Reuters methodology and data is set out at the conclusion of the report.

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Previous Market Update Reports 

Green Bonds Mid-Year Summary Q1Q2 2017 is here

Green Bond Highlights 2016 is here