Corporate green bonds
Second green bond from TerraForm to finance wind power acquisition, $300m 10yr, 6.125% s/a coupon, BB-/B1
Development bank issuance
Massive demand for KfW’s third green bond offering, and first ever kanga bond, sees it upsize to A$600m ($456m) and its still oversubscribed! 5.25yrs, AAA, 2.4% coupon
After a blazing entry to the green bond market last summer German development bank KfW continued to lead with a Kanga (Australian dollar denominated) bond to the tune of A$600m ($456m). It’s KfW’s first ever Australian dollar bond.
In Frankfurt yesterday I met with the KFW (Germany’s development bank) Capital Markets team, who ran through their latest green bond in USD. A strong result.
We knew it was coming, but the size is a surprise. Go Germany!
German’s development bank, KfW (Kredit für Wiederaufbau) has just issued its inaugural Green Bond, at a whopper EUR 1.5 billion (£2.03 billion). If you want make a splash, that’s the way to do it.
The German government decided last Thursday that the country's KfW development bank will finance 10 wind farms with a combined €5 billion; KfW will now be able to provide up to €700 million in funding (and half of that in risk participation) per project.
