NAB’s RMBS to offer direct green/non-green price comparison
The forthcoming mortgage securitization by National Australia Bank, which includes a green tranche, will be one of the first times any issuer has issued green and normal bonds at the same time that are identical in almost every other way. As such, it will offer a rare insight into pricing.
Green bonds ought logically to be priced more tightly than normal bonds, since they offer extra, non-monetary value to investors, and carry no more risk. For years there has been evidence of this happening but market participants were reluctant to admit it, afraid of putting investors off.Now ...
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