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Green / Sustainable Sovereign Bonds (1/2)

BONDS

Following the UK's announcement yesterday that it plans to launch its first green gilt next year, we look at the state of the Green and Sustainable sovereign bond market in the Eurozone. The European Commission through its SURE programme and Germany are the only issuers so far to have launched more than one bond with other issuers across the Eurozone concentrating on building up the size of one benchmark bond before attempting to build out a curve.

EU SURE

  • 0% Oct-30 - Launched Oct-20 - Launch EUR10bln
  • 0.10% Oct-40 - Launched Oct-20 - Launch EUR7bln
  • Nov-25 and Nov-50 bonds being offered through syndication today

Germany - Green Federal Securities

  • 0% Aug-30 Bund/g - Launched Sep-20 - Launch EUR6.5bln
  • 0% Oct-25 Bobl/g - Launched Oct-20 - Launch EUR5bln
  • Plans to build a Green bond curve with "twin" issuance of 2, 5, 10, 30 years with matching coupons and maturities

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