Repsol oils way for green bond first

Repsol_Filling_Station_10May2017_RepsolImageGallery_230x150
By Michael Turner
09 May 2017

Spain’s Repsol brought the first ever green bond from an oil major to the market on Tuesday, leaving green investors to pick through the morals of financing a sector that environmentally responsible finance was created to help mitigate.

Repsol, rated Baa2/BBB-/BBB, is one of Europe’s largest oil producers.

“On first looks, an oil company selling a green bond is a hard sell,” said a banker working off the trade. “Even if it is for green projects, which this no doubt will be, ...

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