eib

This week the EIB announced it is tapping its Climate Awareness Bond for a further EUR250m in an announcement that makes takes the bond up to at least EUR900m. This is the first time the EIB has tapped the 1.375% November 2019 bond.

The European Investment Bank (EIB) this week placed a 7 year, SEK400m ($60m) Climate Awareness Bond with Scandinavian investors. Coupon was 3-Month STIBOR +43bp. Lead manager was Danske Bank.

I’m writing beside a beautiful lagoon on the tropical South Pacific island of Espiritu Santo, not far from where I was born and spent my early years.

Working on climate change introduces a note of melancholia to such holidays: how long before my waterside bungalow gets washed away in more extreme storm surges and rising sea levels? Does that bizarre tubular jellyfish that I managed to avoid snorkelling today represent the new dominant as oceans acidify?

At least there is good news on the energy front:

On Friday the EIB placed a 7 year, SEK750m  Climate Awareness Bond with Norwegian pensions/insurance company Storebrand SPP. Coupon was 3-Month STIBOR +43bp.

Some further details about EIB's latest climate bond:

1. 60% of the entire transaction went to "socially responsible investors".

2. Investors were 32% from Benelux, 30% Germany, 22% France, 8% elsewhere in Europe and 8% from Asia. (UK investors don't make up much, falling into the 8% which make up the rest of Europe.)