market-report
French municipality Essonne issues EUR 40M ($50m) green bond; 14.5 year, 2.083% coupon, AA-/AA
Submitted on Mon, 2014-12-29 17:13In early November Department de L’Essonne, a French municipality that is part of Ile-de-France, issued an inaugural green bond to fund low carbon transport and green building projects.
Cincinnati Uni issues $29.5m green bond, from 7-27yrs tenor, followed by Indiana Uni $66m, 1-20 yr.
Submitted on Mon, 2014-12-29 14:47The public university green bonds follow Massachusetts Institute of Technology’s (MIT) green bond in September this year. MIT’s offering was the first ever by a US university.
US Green muni trio; Connecticut $60m up to 17yr, Florida’s East Central $87m up to 20yr, Spokane WA $181m up to 20yr – all for WATER projects + Spokane is 1st Muni to have a 2nd opinion!
Submitted on Tue, 2014-12-09 09:58Last winter we noted the rise of the corporate green bond; this seems to be the winter of the green muni (municipal) bond. The past few weeks have seen three green munis totalling $328m, from across United States. The bonds have quite a bit in common; all from first-time green bond issuers; and all use proceeds for water projects.
The headlines:
NAB Certified Climate bond closes in 5hrs & doubles in size due to huge investor demand! A$300m (US$251m), 7r, 4%, AA-/Aa2. Proceeds to wind and solar projects.
Submitted on Mon, 2014-12-08 16:55The National Australia Bank (NAB), one of the four big banks in Australia, has closed Australia’s first climate bond certified under the Climate Bonds Standard. The A$300m bond has tenor of 7 years, coupon of 4% and is rated AA- (S&P) / Aa2 (Moody’s).