Landsbankinn's Latest Green Bond Issue: A Sustainable Milestone
Introduction to Landsbankinn's Green Bond Issuance
Landsbankinn hf. has recently achieved a significant milestone by concluding the sale of a new green bond amounting to EUR 300 million. This issuance marks the fifth time the bank has stepped into the euro market with a green bond, highlighting its ongoing commitment to sustainability and financial innovation.
Details of the Bond Issuance
The newly issued bonds come with a fixed interest rate of 3.75%. Moreover, they were offered with terms that reflect a spread of 155 basis points above mid-swap market rates, positioning them favorably within the broader market.
Strong Demand from Investors
There was a remarkable response from the investment community, with subscriptions exceeding EUR 1 billion. Over 100 investors from various regions, including the UK, Nordics, continental Europe, and Asia, showed interest, demonstrating a strong appetite for sustainable investments.
Framework for Sustainable Finance
These bonds will be issued under Landsbankinn's Euro Medium Term Note (EMTN) programme, which is aligned with the bank’s sustainable finance framework. This framework has been rigorously reviewed by Sustainalytics, ensuring that the issuance meets high standards for sustainability.
Trading Information
Investors can anticipate the bonds to be admitted to trading on Euronext Dublin, with the expected trading date starting on 8 October 2024. This trading admission further enhances the bonds' liquidity and accessibility for investors.
Role of Dealer Managers
In facilitating this bond issuance, several esteemed financial institutions took part as dealer managers, including ABN AMRO Bank, J.P. Morgan, Natixis, and Nomura. The involvement of these prominent banks lends credibility and expertise to the transaction.
Conclusion
Landsbankinn’s green bond issuance is more than just a financial product; it represents a sustainable initiative that aligns with global trends towards sustainable investments. As companies and investors increasingly prioritize environmental considerations, Landsbankinn is positioning itself as a leader in responsible finance, making strides towards a greener future.
Frequently Asked Questions
What is a green bond?
A green bond is a type of fixed-income instrument specifically earmarked to raise funds for projects with positive environmental impacts.
How much did Landsbankinn raise from this bond issuance?
Landsbankinn raised EUR 300 million through its latest green bond issuance.
What interest rate do the newly issued bonds carry?
The new bonds carry a fixed interest rate of 3.75%.
When will the bonds start trading?
The bonds are expected to start trading on Euronext Dublin on 8 October 2024.
Which banks managed the bond issuance?
ABN AMRO Bank, J.P. Morgan, Natixis, and Nomura served as dealer managers for this bond issuance.
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