According to the Wall Street Journal’s MoneyBeat column, Mario Draghi on Thursday said the European Central Bank (ECB) was working to promote a funding market for asset-backed securities, which allow banks to pool together shorter-term debt they have sold – such as car loans, credit cards, and residential mortgages – and sell thos
The European Investment Bank issued a SEK500m ($75.9m), 6 year, Climate Awareness Bond last week. Interest rate was 3%. Placement was 40% Nordic, 20% Asian, the rest in Europe.
The European Investment Bank (EIB) this week issued a 11 year Swedish Krona 750 million ($111 million) 'Climate Awareness Bond', with an interest rate of 2.75%.
Scandinavian investors took 51% of the bond, other European investors 22% and Asian 27%. Fund managers took 54%, bank treasuries 41%. Bookrunners were Danske Bank and HSBC.
> The European Investment Bank issued a 7 year, 3%, SEK1 billion ($148m) Climate Awareness Bond last week. Underwriters were SEB (Christopher Flensborg is at it again) and Deutsche Bank. Looks like Swedish funds continue to have appetite for climate and green bonds.
> Climate Bond talks are everywhere this Spring:
> The European Investment Bank is a hero bank - it's the world's largest clean energy lender - but they have a dark side that uses cheap public money to build new coal-fired power stations. It's policy lunacy because it means the EU's bank is undercutting EU emissions reduction targets (let alone the world's).
