A stellar month for Green Bonds in November

 

November was an exceptional month for Green Bonds, with 7 new bonds listing on LSE (raising USD 3.5 billion), more than any other exchange. This brings the total number of green bonds listed on our markets as of end of November to 59, with USD 20.2 billion equivalent raised.

This month has also seen a series of ‘firsts’ all coming at a time when the world has been focused on Climate Change at the United Nation’s COP23:

  • Westpac Banking Corp, Australia’s oldest bank, chose London for its landmark green bond issuance and listed their first international green bond on November 22, with a value of EUR 500 million.
  • Barclays sold its debut green bond, an incredibly pioneering transaction using data publicly available in the UK to identify green mortgages, and the first ever green bond issued by a UK bank.
  • On November 24, we saw the first green senior bond issued by the Danish energy powerhouse Orsted (EUR 750 million), part of a EUR 1.25 billion dual tranche transaction encompassing both senior and hybrid notes.
  • Toyota Motor Credit issued a EUR 600 million bond on November 21, their first euro-denominated bond in 2 years.
  • Fingrid OYJ, the Finnish national electricity transmission grid operator, listed their first green bond on November 23 with a value of EUR 100 million.
  • Rounding up the month’s activity were two impressive issuance from Bazalgette Finance, also operating under the name Tideway. The issuer priced a GBP 250 million green bond and a GBP 200 million private placement on two consecutive days, becoming the largest corporate issuer of sterling denominated green bonds to date.

Overall, there has been a 57% growth in green bonds listed on London Stock Exchange in one year (from 14 to 22 new bonds listed) and a 58% increase in amount raised (USD 9bn raised in 2017 YTD vs. USD 5.7bn in 2016).


Green finance is growing fast and London Stock Exchange Group is proud to be at the epicentre of this defining global trend. We are looking forward to a strong finish to the year, as we look ahead to another exciting year in 2018.