Banks hail transition bonds’ arrival after false starts

Gas cooking cooker flame from Adobe 5 Mar 20 575x375
By Jon Hay
05 Mar 2020

Transition bonds, one of the hottest talking points of the past year in the green bond market, made a decisive step forward this week when Cadent Gas, the UK’s largest gas distributor, issued a €500m deal that attracted large orders from environmentally concerned investors, even though some green bond funds shunned it. Jon Hay reports.

The deal is likely to be seen as the first clear proof that the transition bond concept works. The product has been conceived as a funding instrument, similar to green bonds, for organisations that are not green but are making efforts to transition to a more sustainable business ...

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