The £6 bn Pension Insurance Corporation (PIC) has bought up as a private placement the first ever UK publicly-listed solar bond, a £40m ($64m), 24 year bond linked to two 5 MW solar plants in Somerset owned by Solar Power Generation.
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.
In April we reported that South Africa's state-owned Industrial Development Corporation (IDC) was issuing 5.2 billion rand ($595m) of green bonds to fund new renewable energy projects.
Canada’s Next Era Energy recently issued an asset-backed $175m, 19 year solar bond. Rating BBB, interest rate 4.80%.
> Canada's Brookfield Renewable issued a $176m bond to fund a new 45 MW hydroelectric project in British Columbia. Interest rate is 4.45%, fully amortizing over a term of, yes you read it right, 41 years. The bonds are rated A (low) with a stable trend by DBRS. Scotia Capital was the private placement agent.
