The European Investment Bank (EIB) this month upped its total issuance of Climate Awareness Bonds (CAB) due November 2026 by €250 million, bringing its total in that series to €1.5 billion.
Total CAB issuance by the lender is up to €12.8 billion with 59 tranches launched in 11 currencies, according to an EIB statement. The bank's largest issuance to date outside of this latest are the €3 billion CAB due November 2019 and the €1.5 billion CAB due November 2023.
The issuance marks the 100th green bond issuance via the Luxembourg Stock Exchange (LuxSE). The EIB was also the first development bank to list a green bond on the LuxSE index in 2007. The exchange is home to green bonds listed in 20 currencies by 20 separate issuers.
“This 100th bond issue on LuxSE strengthens a path of trust, cooperation and vision to supporting climate action,” said EIB president Werner Hoyer.
Joint bookrunners on the deal include Bank of America Merrill Lynch, Barclays, Commerzbank, HSBC and Natixis .
Funds raised through EIB green bond issuances are earmarked by the bank to match “actual disbursements to eligible projects”, which include renewable energy projects in the wind, hydropower, tidal, solar, and geothermal space. Also targeted are energy efficiency projects such as district heating, cogeneration, building insulation, energy loss reduction in transmission and distribution, and equipment replacement “with significant energy efficiency improvements”, according to the statement.
In 2015, the EIB dedicated 25 percent of its lending capacity – roughly €20 billion – to climate action. Support for the green bond marketplace is a key objective in the EIB Corporate Operational Plan 2015-2017.
The bond series will reach maturity on 13 November 2026.