The Massachusetts AA+ green bond I mentioned last week got a lot of coverage on release this week - even the WSJ ran the story. But there was a twist: it seems the State had to scale back the total $1.1bn GO offering to $670m on tepid demand, but the green bond bit was 30% oversubscribed.
Trade Finance magazine reports that the IFC is planning to issue $1bn a year of Green Bonds.
The IFC has just issued (books closed a couple of hours ago) a USD1 billion, 3 year, AAA "Green Bond" tied to climate investments - yes, that's a climate bond in our parlance. Interest rate set at 3 year US Treasuries +15 basis points.
> The IFC on Friday issued a $500m Green Bond in the US market. Rated AAA, the three-year bonds was underwritten by JP Morgan. This is the first IFC green bond targeting US investors. All proceeds go to climate change related investments. Investors include BlackRock, TIAA-CREF, Climate Bond Standards Board member CalSTRS and the United Nations Joint Staff Pension Fund. The coupon is 0.5!
Climate Bond Standard released, open for business; Goal to Assure Integrity of Green Claims for Investors, Governments
LONDON TODAY – The Climate Bonds Initiative today released the final approved text of the prototype Climate Bond Standard. See http://standards.climatebonds.net/
