Tag: Green Bond

Volvo Cars raises EUR 500m for electrification through new green bond

Stuart Mitchell

Volvo Cars has successfully placed its second green bond to raise EUR 500m from a diverse set of global investors. The bond was oversubscribed three-times, despite challenging global market conditions. All proceeds are earmarked for funding and accelerating the company’s transformation towards becoming a fully electric carmaker by 2030 and becoming climate neutral and circular by 2040. Over two thirds of the proceeds will fund the research and development of electric powertrains for next generation pure electric Volvo cars as well as related new platform technology, while the rest will…

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RWE successfully issues €1.35 billion green bond

Stuart Mitchell

RWE has successfully issued a further green bond with a total volume of €1.35 billion. The bond was issued in two tranches of €0.75 billion with seven-year tenor and €0.6 billion with twelve-year tenor respectively. For the first tranche, the yield-to-maturity amounts to 0.528%, based on a coupon of 0.5% p.a. and an issuance price of 99.808%.  For the second tranche, the yield-to-maturity amounts to 1.077 %, based on a coupon of 1.0% p.a. and an issuance price of 99.138%. The issuance met with keen interest from investors. In June…

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European Commission successfully issues first green bond to finance the sustainable recovery

Stuart Mitchell

The European Commission has issued the first NextGenerationEU green bond, thus raising €12 billion to be used exclusively for green and sustainable investments across the EU. This represents the world’s largest green bond issuance ever. With NextGenerationEU green bonds, the EU is set to become the world’s largest green bond issuer by far, providing a significant boost to sustainable finance markets as well as funding a greener EU recovery from the pandemic. With the strong oversubscription rate and excellent pricing conditions today’s issuance represents a promising start to the NextGenerationEU…

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Northern Gas Networks launches green bond

Stuart Mitchell

Northern Gas Networks (NGN) has launched a green transition bond, giving the public the opportunity to invest in a hydrogen-ready network for the first time. NGN has teamed up with Abundance, the UK’s leading ethical investment crowdfunding platform, to launch the bond which will help fund the upgrade of pipes to prepare the gas distribution network to transport hydrogen. It’s the first time a regulated energy distributor has offered a green transition bond exclusively for members of the public, allowing everyone to participate in the transition to net zero emissions. The…

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Barclays raises £400m through second ‘Green Bond’ issue

Stuart Mitchell

Barclays has announced that it successfully closed a £400m ‘Green Bond’ issue (the 2020 Green Bond) on 27 October – the second bond it has issued with a specific intention to support climate-related products and initiatives. The 2020 Green Bond, which matures in 2026, attracted strong institutional investor interest with orders amounting to more than £2bn (an oversubscription of five times). It will offer a yield of 1.70%. The funds raised will be allocated towards the financing and/or re-financing of mortgages on energy efficient residential properties* in England and Wales…

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