SRI Award Winners 2018 revealed

GlobalCapital announced the winners of its Sustainable and Responsible Capital Markets Awards 2018 in Amsterdam on Tuesday evening. This year’s two sovereign debut green finance issues, from Indonesia and Belgium, won Deals of the Year in their regions, and there were double laurels for Danone, in both the bond and loan markets.

  • By Jon Hay
  • 05 Sep 2018
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The European Investment Bank was crowned the Overall Best SRI/Green Bond Issuer, with BNG Bank taking Best Social or Sustainability Bond Issuer. Bank of America and Mexico City Airport Trust also won Deals of the Year.

Crédit Agricole won the top investment bank Award as well as that for EMEA, while HSBC took Asia Pacific and JP Morgan the Americas. Amundi and Mirova jointly won the Best Investment Firm.

Among issuers, France, Ile-de-France, HSBC, Iberdrola and Fannie Mae were the best in their fields, while BBVA and Berlin Hyp won specific Awards for, respectively, the Best Designed Green Bond Framework and Best Post-Deal or Impact Reporting.

As with all GlobalCapital’s bond Awards, these are decided by market participants, in an online poll we conducted in June and July. They therefore represent the opinion of the market as to which were the players, deals and innovations that were the most successful or important in moving the market forward.

The Awards were given at the conclusion of GlobalCapital and Euromoney Conferences’ sixth Sustainable and Responsible Capital Markets Forum, a packed day of discussion, debate and new ideas, ranging from the European Union’s Sustainable Finance Action Plan to tackling how to use the Sustainable Development Goals in investment strategies, and from gender equality to the plague of marine plastic.

Collecting Belgium's Award at the ceremony, Anne Leclercq, director of treasury and capital markets at the Belgian Debt Agency, said the experience of issuing Belgium's €4.5bn green OLO had been "an adventure" which had taken her into a market she did not know, but which was "very interesting".

Chrissa Pagitsas, director of the multifamily green financing business at Fannie Mae, which won Best ABS Issuer, said the important thing was that this market brought together issuers of different kinds, all of whom were working to make the world a better place.

GlobalCapital congratulates all the Award winners and nominees, and thanks all who voted in the poll.


GENERAL AWARDS


Most Influential Champion of the Market

Sean Kidney, Climate Bonds Initiative

2= Aldo Romani, European Investment Bank

2= Marilyn Ceci, JP Morgan

3 Eila Kreivi, European Investment Bank


Most Valuable Innovation for the Green Finance Market

EC Action Plan on Financing Sustainable Growth

2 EC High Level Expert Group on Sustainable Finance

3 Green Bond Principles 2018

4 Green and ESG-linked loans


Most Valuable Innovation for the Social and Sustainability Finance Market

Social Bond Principles 2018

2 GBP and SBP High Level Mapping to the Sustainable Development Goals

3 EC High Level Expert Group on Sustainable Finance

4 SBP Working Towards a Harmonised Framework for Impact Reporting for Social Bonds


GREEN AND SRI BOND AND LOAN DEALS OF THE YEAR


EMEA Green/SRI Bond Deal of the Year

Belgium

€4.5bn 1.25% 15 year debut green OLO, issued February 2018

Barclays, BNP Paribas, Crédit Agricole, ING, JP Morgan (books)

Sustainalytics (second opinion)


2 BBVA

€1bn 1.375% seven year debut green senior non-preferred bond, issued May 2018

BBVA (green structuring agent), Commerzbank, Crédit Agricole, HSBC, Société Générale, UniCredit (books)

DNV GL (second opinion)


3= Danone

€300m 1% seven year debut social bond, issued March 2018

Crédit Agricole, Natixis (books) Vigeo Eiris (second opinion)


3= Iberdrola

€1bn 1.875% perpetual green hybrid capital bond, issued November 2017

Barclays, BBVA, BNP Paribas, Crédit Agricole, HSBC, ING, JP Morgan, MUFG, Santander, UniCredit (books) Vigeo Eiris (second opinion)


Asia Pacific Green/SRI Bond Deal of the Year

Indonesia

$1.25bn 3.75% five year debut green sukuk, issued February 2018

HSBC (green structuring adviser), Abu Dhabi Islamic Bank, CIMB Group, Citigroup, Dubai Islamic Bank (books)

Cicero (second opinion)


2= China Development Bank

€1bn 0.375% four year and $500m five year green bonds, issued November 2017

China Construction Bank, Crédit Agricole, Deutsche Bank, Agricultural Bank of China, Bank of Communications, Bank of China, BNP Paribas, Commerzbank, Commonwealth Bank of Australia, HSBC, ING, SEB, Standard Chartered (books)

Climate Bonds Initiative (certification), Ernst & Young Hua Ming (third party assurance)


2= Fiji

F$50m 4% five year and F$50m 6.3% 13 year green bonds, issued November 2017

World Bank, IFC (advisers)

Sustainalytics (second opinion)


3 Industrial and Commercial Bank of China (Luxembourg)

$450m three year FRN, $400m 2.875% five year and €1.1bn three year FRN debut green bonds, issued September 2017

Bank of America Merrill Lynch, Crédit Agricole, HSBC, ICBC, BNP Paribas, Citigroup, SEB, Société Générale, UBS (books)

Cicero, Zhongcai Green Financing (second opinions)


North American Green/SRI Bond Deal of the Year

Bank of America

$2.25bn 3.5% four year green senior resolution bond, issued May 2018

Bank of America Merrill Lynch (books)


2= Avangrid

$600m 3.15% seven year debut green bond, issued November 2017

BBVA, BNP Paribas, Citigroup, Wells Fargo, Deutsche Bank, Drexel Hamilton, Williams Capital (books)


2= DTE Electric Co

$525m 4.05% 30 year green mortgage bond, issued April 2018

Bank of America Merrill Lynch (green structuring agent), Barclays, BNP Paribas, TD Securities (books)


3= Fannie Mae

$495m FNA 2017-M15 multifamily housing loan securitization tranche A2, issued November 2017


3= Toyota Motor Credit Corp

€600m 0% 3.7 year green bond, issued November 2017

Barclays, BNP Paribas, Crédit Agricole, ING, UniCredit (books)

Sustainalytics (second party opinion)


Latin American Green/SRI Bond Deal of the Year

Mexico City Airport Trust

$1bn 3.875% 10.6 year and $3bn 5.5% 30 year green bonds, issued September 2017

Citigroup, HSBC, JP Morgan, BBVA, Santander (books)

Moody’s (green bond rating), S&P (green evaluation), Sustainalytics (second opinion)


2= Aguas Andinas

$159m seven year green bond, issued April 2018

BBVA (placement agent)


2= Banco de Comercio Exterior de Colombia (Bancóldex)

Ps200bn five year green bond, issued August 2017

Inter-American Development Bank (books)

Sustainalytics (second opinion)


2= Mexico City

Ps2bn long 10 year sustainability bond, issued September 2017


Most Innovative Green/SRI Bond Deal

Danone

€300m 1% seven year debut social bond, issued March 2018

Crédit Agricole, Natixis (books) Vigeo Eiris (second opinion)


2 HSBC

$1bn 3.03% six year debut sustainable development bond, issued November 2017

HSBC (books) Sustainalytics (second opinion)


3 Iberdrola

€1bn 1.875% perpetual green hybrid capital bond, issued November 2017

Barclays, BBVA, BNP Paribas, Crédit Agricole, HSBC, ING, JP Morgan, MUFG, Santander, UniCredit (books) Vigeo Eiris (second opinion)


Green/SRI Loan of the Year

Danone

€2bn five year sustainability-linked revolving credit facility amendment, signed February 2018

BNP Paribas (lead), Citigroup, Crédit Agricole, HSBC, JP Morgan, Société Générale, Santander (books), Barclays, ING, MUFG, NatWest Markets, Natixis (MLAs)

Sustainalytics, Vigeo Eiris (ESG ratings)


2 AccorHotels

€1.2bn five year sustainability-linked revolving credit facility, signed June 2018

BNP Paribas (sustainable coordinator), UniCredit, MUFG, Société Générale (coordinators), Bank of America Merrill Lynch, Barclays, Crédit Mutuel-CIC, Commerzbank, Crédit Agricole, HSBC, NatWest Markets, Natixis, Santander (books), Citigroup, ING (MLAs)

Sustainalytics (ESG rating)


3 Koninklijke VolkerWessels

€600m five year sustainability-linked revolving credit facility amendment, signed May 2018

Rabobank (sustainability coordinator), ABN Amro, ING (books), BNP Paribas, Crédit Agricole, HSBC, MUFG (MLAs)


BEST ISSUERS


Overall Most Impressive Green/SRI Bond Issuer

European Investment Bank

2 Berlin Hyp

3 France


Most Impressive Social or Sustainability Bond Issuer

Bank Nederlandse Gemeenten

2 African Development Bank

3= Caja Rural de Navarra

3= Danone

3= International Finance Corp


Most Impressive Green/SRI Bond Funding Official

Eila Kreivi, European Investment Bank

2 Aldo Romani, European Investment Bank

3 Bodo Winkler, Berlin Hyp


Most Impressive Supranational Green/SRI Bond Issuer

European Investment Bank

2 International Finance Corp

3 Nordic Investment Bank

4 Council of Europe Development Bank


Most Impressive Government or Government Agency Green/SRI Bond Issuer

France

2 Belgium

3 KfW


Most Impressive Local Government Green/SRI Bond Issuer

Ile de France

2 North Rhine-Westphalia

3 Ontario


Most Impressive Financial Institution Green/SRI Bond Issuer

HSBC

2 Berlin Hyp

3 KBC


Most Impressive Corporate Green/SRI Debt Issuer

Iberdrola

2= Danone

2= Tennet

3 Ørsted


Most Impressive Green/SRI Covered Bond Issuer

Berlin Hyp

2= Caja Rural de Navarra

2= Deutsche Hypo

3 DNB Boligkreditt


Most Impressive Green/SRI ABS Issuer

Fannie Mae

2 Obvion

3 Toyota


Best Designed Green/SRI Debt Framework

BBVA

2 France

3 Berlin Hyp


Best Green/SRI Issuer for Post-Deal or Impact Reporting

Berlin Hyp

2 SNCF Réseau

3 European Investment Bank


BEST INVESTMENT BANKS

Overall Most Impressive Investment Bank for Green/SRI Capital Markets

Crédit Agricole CIB

2 HSBC

3 ING

Most Impressive Green/SRI Investment Banker

Tanguy Claquin, Crédit Agricole CIB

2 Marilyn Ceci, JP Morgan

3 Suzanne Buchta, Bank of America Merrill Lynch


Most Impressive Investment Bank for EMEA Green/SRI Capital Markets

Crédit Agricole CIB

2 BNP Paribas

3 HSBC

Most Impressive Investment Bank for Asia Pacific Green/SRI Capital Markets

HSBC

2 Crédit Agricole CIB

3 Bank of America Merrill Lynch


Most Impressive Investment Bank for Americas Green/SRI Capital Markets

JP Morgan

2 Bank of America Merrill Lynch

3 Citigroup


BEST INVESTORS


Most Impressive Green/SRI Investment Firm

(joint winners)

Amundi, Mirova

2 BlackRock

3 Zurich Insurance Group


Most impressive Green/SRI Investor

Chris Wigley, Mirova

2 Ashley Schulten, BlackRock

3 Johanna Köb, Zurich Insurance Group


BEST SECOND OPINION PROVIDER, RATING AGENCY, ENVIRONMENTAL IMPACT CONSULTANT AND LAW FIRM


Most Impressive Second Opinion Provider or Rating Agency

Sustainalytics

2 Cicero

3 ISS-Oekom


Most Impressive Environmental Impact Consultant

Carbone 4

2 Sustainalytics

3= South Pole

3= ZSW


Best Green/SRI Finance Law Firm

White & Case

2 Clifford Chance

3 Allen & Overy

  • By Jon Hay
  • 05 Sep 2018

Global Green Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 6,884.34 34 6.89%
2 Bank of America Merrill Lynch 6,054.66 25 6.06%
3 Credit Agricole CIB 6,024.04 39 6.03%
4 Citi 5,768.58 26 5.77%
5 HSBC 5,686.07 39 5.69%