Latest stories on Socially Responsible Investments
Unibail-Rodamco has signed today its green loan, one of the first syndicated facilities to offer the borrower a pricing benefit if it hits sustainability targets. The loan was increased twice in syndication after being oversubscribed, from €500m to €600m and then to €650m.
IFC and Amundi will launch the largest green bond fund dedicated to emerging markets, in a bid to encourage more financial institutions to use the product.
Hard on the heels of Unibail-Rodamco’s ground-breaking green loan, believed to be the first large corporate financing to give the borrower a pricing benefit if it hits sustainability targets, Koninklijke Philips, the Dutch health technology group, has signed a similar €1bn loan linked to its sustainability rating, writes Jon Hay.
Property Assessed Clean Energy (PACE) industry experts warned that anti-PACE bills introduced by congressional lawmakers this month could "inflict serious wounds" on a multi-billion dollar industry if passed in their current form.
A glimpse of the future has arrived with the publication of a report modelling the credit risk banks face from drought. The effect on loan portfolios could be severe — and the research illustrates the new kinds of risk management banks will have to do as the world’s climate becomes more volatile.
The African Development Bank could join the Asian Development Bank in printing green bonds in the Uridashi market, while the World Bank is looking at SRI opportunities in Singapore.
Singapore’s green bond market officially opened last week, with CDL Properties pricing a S$100m ($71.3m) two year, raising hopes that more issuers from the country will follow suit. But Singapore needs to encourage them.
Congressional lawmakers last week proposed legislation targeting the Property Assessed Clean Energy (PACE) program for homeowners, a measure they say is aimed at protecting consumers from predatory lending.
CDL Properties has made a splash in the Singapore dollar debt market, selling the country’s first green bond, a S$100m ($71.3m) two year deal.
The palette of socially responsible investment bonds is expanding. Two borrowers made SRI debuts this week with a social inclusion bond and a sustainability bond, while a third has announced its intention to follow suit.
The Property Assessed Clean Energy (PACE) ABS pipeline, which saw a flurry of activity towards the end of last year but has been quiet so far in 2017, has come alive, with Renovate America and Ygrene Energy marketing new deals.
KommuneKredit is set to hit the road for its debut green bond, after mandating banks on Thursday.
Lloyds Bank has arranged for Unibail-Rodamco, the French-Dutch property company, what it believes is the first syndicated loan that gives the borrower cheaper funding if it hits environmental targets.
CDL Properties has thrown open the doors for the Singapore green bond market, launching its deal on Thursday, just two weeks after the country announced a grant scheme for socially responsible issuers.
Paige Wisdom, the former chief enterprise risk officer at Freddie Mac, has joined residential Property Assessed Clean Energy (PACE) lender Renovate America as chief financial officer.
A pair of European borrowers debuted socially responsible investment bonds on Monday, raising a combined €1.2bn, with one able to tighten its price by several basis points.
Eurofima sold its first socially responsible investment (SRI) note on March 30, raising $100m with a 10 year MTN. Michele Montefiori, head of capital markets at Eurofima, is keen to follow up with a green bond.
Telia and Tennet broke 2017’s euro corporate hybrid fast by bringing trades within a day of each other. Bankers said investors will have the chance to gorge themselves as plenty more issuers are lining up after the success of this week’s deals.
NEW: SRI special reportOctober 2015
Articles in this report...
- Bending the curve: can the Paris summit slow climate change?
- Fixed income: is responsible investing becoming the norm?
- Local governments take steps into green universe
- Will someone tell me what’s really green?
- Reporting — the new must-have accessory for SRI bonds
- Green bonds and growing pains
- Social bonds busy making more friends
- Corporate and FIG issuers take the green bond baton
- Asia’s green bond market ready to pop as China, India sign up
- Hopes high for future of Asian SRI
- Latin America finding its own way to rise to the SRI challenge
- Bond volumes off target but optimism shines through
- Green indices reach new heights and take market with them
- The changing investor base’s diversity of needs
- Banks and CSR: Put your money where your mouth is
- SRI sectors in focus: Evolution of green bonds
- SRI sectors in focus: Energy Efficiency
- SRI sectors in focus: Forestry
- SRI sectors in focus: Housing and buildings
- SRI sectors in focus: Renewable energy
- SRI sectors in focus: Transportation
- SRI sectors in focus: Water Governance
- SRI sectors in focus: Water Purification
SRI 2014 report
Articles in this report...
- The last chance saloon
- What is a green bond? And who should decide?
- Bond investors get serious on ESG — and issuers respond
- Green bonds hit the big time
- SSAs take pioneering spirit to new frontiers
- Public sector borrowers define the environment — and beyond
- Bold munis make long green strides, but most are far behind
- SRI bonds — forerunners of the new green generation
- Economic powerhouse could one day lead in ethical issuance
- Projects and pricing: issuers and investors debate the future of Asian SRI
- Corporates take up the green bond baton
- Companies, banks highlight hidden value, prepare green bonds for climate mission
- Have we reached the tipping point?
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