Two supranationals are on screens for ESG firsts. The European Bank for Reconstruction and Development (EBRD) has announced its first green transition bond, while the Asian Development Bank (ADB) is preparing its first foray into the green bond market in sterling, capitalising on strong appetite from UK pension funds.
EBRD has selected Bank of America, Barclays, Citi and HSBC to run the books for a five year euro global benchmark. The proceeds will fund a specific portfolio of environmentally and socially sustainable products.
The leads have offered initial price thoughts of mid-swaps minus