Markets Monthly #6 - 08/07/2020: GB issuance for H1 2020 at USD84.7bn: HKEX
launches GB platform: Dutch Certified Sovereign: Certification for world’s biggest floating
wind farm: First GB from university in Asia: Registrations for CBI conference now open.
Welcome to the Markets Monthly #6!
For more information on the Climate Bonds Database on Market Data mail to: dataenquiries@climatebonds.net

Stay Connected with Climate Bonds
Climate Bonds Connected aims to bring you all of the latest transition, green & sustainable finance developments via
Webinars, podcasts and more. Here is what’s upcoming:
Green Bond Lab: Growing a Sustainable Finance Culture: Tuesday, 14 July, 15:00 Paris / 14:00 London
This time around we have Sean Kidney in conversation with Jean-Marc Mercier, Vice-Chairman, Capital Markets at HSBC
Global Banking & Markets. Registration

Don’t Miss!
Our next Monthly Market Update Broadcast on Wednesday 15th 14:00 London Time. 15 mins of June market analysis &conversation with Data Analyst Lea Muething.

Breaking News!
Registrations are now open for our Annual Conference held between the 8-10th September. Find out more on theconference website.
Latest Reports

Brazil’s Green Investment Potential for Agriculture
The report identifies a large pipeline of projects and assets eligible for green financing and marking
the investment potential for Agriculture in Brazil to reach USD163bn (BRL692bn) by 2030. Designed
to demonstrate how green investment can be directed to agriculture projects and assets at scale andthe technological advances made by the sector, the roadmap highlights a green pipeline for
agriculture, livestock, renewable energy, forests and transport infrastructure.

China Green Bond Market 2019 Research Report
China Green Bond Market 2019 Research Report analyses the key developments in the world’s
largest source of labelled green bonds. Focusing on green bond issuance, policy development andwider market growth, available in English and Chinese, the report is the fourth in an annual series
from Climate Bonds.
1

In the first half of the year the green bond market saw issuance of USD84.7bn compared to a total of USD172.2bn in thefirst six months of 2019. The impact of the pandemic is clear in the comparative figures. Absolute volume for each issuer
type decreased by at least 29% - apart from Government-backed Entities which saw an increase of 12% (USD21.2bn 2020
against USD18.9bn in 2019).
We will have more detail in our half-year update coming out soon.

June at a glance
Overall, June 2020 issuance added up to USD14.9bn, bringing total cumulative issuance to USD863bn. It’s a 34% year-onyear decrease from last June but is still higher than the monthly average in the first half of the year – which as noted, hasbeen impacted by COVID-19.

Credit markets saw an uptick in mid-June as the US Fed announced it would include corporate bonds in its purchasing
programme causing a rally and strengthening market confidence. At the same time, the pandemic is increasingly causing
companies to go bust: car rental firm Hertz and airline Flybe are only two from a long list of firms that collapsed leaving
thousands jobless.
The urgency for government stimulus is to bring economies back on track. Tying this to green projects emerges as the way
forward for multiple countries as an increasing number of commitments can be seen: for example the Scottish
government will make a GBP5.5m (USD6.8bn) investment in local renewables and low carbon heat.
In the meantime, we saw multiple regulatory and framework developments in June, such as the European Parliament
adopting the taxonomy regulation for sustainable finance; the classification system for environmentally sustainableeconomic activities. In an effort to establish more standardised markets, the Green & Social Bond Principles by ICMA
published Sustainability-Linked Bond Principles and updated the Social Bond Principles and other key guidance. The
UNDP has also drafted standards to support private equity fund managers and bond issuers that want to direct finance tomeeting the Sustainable Development Goals (SDGs).
Along with other emerging instrument types, transition bonds are increasingly surfacing in the market. These
controversial instruments are in need for more standardised definitions as well. Examples of recent transition bondissuers include SNAM (Italy) and CLP (Hong Kong). Due to their complexity in the context of a low carbon economy,

2transition bonds require additional scrutiny to ensure sufficient ambition in targets, and ultimately significant contribution
to decarbonisation. An ICMA working group is expected to publish guidelines by the end of the year.
Emerging Markets made up 8% of June 2020 issuance. Amongthe deals was repeat issuer First Abu Dhabi Bank (National
Bank of Abu Dhabi – UAE) - the first institution from the UAE
to issue back in 2017 - which came to the market for the thirdtime with a USD96.5m deal. Taiwan Power (Taiwan) also
returned, issuing TWD3.2bn (USD108m) and adding to
Taiwan’s total volume of USD2.2bn.
Developed markets’ volume accounted for 83% of the overall
figure with the US (USD3bn), Netherlands (USD2.3bn) and
Norway (USD1.4bn) leading the country ranking. The largest
deal from the US came from Calpine Corporation which tookout a USD900m green loan to fund geothermal power (seeNew issuer spotlight – Certified Bonds). There was also a totalof nine US Muni deals, four of which came from newcomers
to the market.
Sovereign issuance picked up again in June due to the Netherlands (Dutch State Treasury Agency) returning with another
Certified Climate Bond borrowing EUR1.4bn (USD1.6bn) as well as the Republic of Indonesia with USD750m. Financial
Corporates maintained a steady issuance volume over the last quarter with June volume contributing a total of USD3.9bn– the highest monthly figure in 2020 so far.
For the second consecutive month there was a new issuer debuting with a covered bond: SSB Boligkreditt (Norway) will
finance mortgages for energy efficient residential buildings with NOK300m (USD31m). On the non-financial corporateside, less common structures are also starting to appear more. Neoen SA (France) issued Europe’s second green
convertible taking out EUR170m (USD189m).

Development Banks saw their strongest month in 2020 so far with USD1.3bn. The primary share came from the EIB with
USD1.2bn (EUR1bn) and the residual amount from the Asian Development Bank, Swedish Export Credit and the WorldBank.
Elsewhere, green loans are picking up again and also saw their strongest month in 2020 with two large Certified deals: inaddition to Calpine Corporation financing geothermal projects, Kincardine Offshore Windfarm (Cobra – UK) took out a
GBP380m (USD481m) loan to finance the world’s largest floating offshore windfarm.

> Check out the full list of new and repeat issuers.
> Click on the issuer name to access the new issue deal sheet in our online Bond Library.

3Worth reading
Hong Kong Exchange said it will launch a sustainable finance platform which will be the first of its kind in Asia - HKEX
…and:
•
•
•

World Investment Report 2020 – UNCTAD (Green finance section – start at page 197)
Changing Gear: Alignment of major auto manufacturers with the goals of the Paris Agreement – 2 Degrees
InvestingGrowing for Profit – Planet Tracker

New issuer spotlight - Certified Climate Bonds
Kincardine Offshore Windfarm (GBP380m/USD481m), United Kingdom, took out its inaugural green loan Certified against
the Marine Renewable Energy criteria. The first of its kind to obtain Certification, the loan’s proceeds will be used tofinance a floating wind farm located 15km off the coast of Aberdeen and planned for commissioning in late 2020. So far,the six-turbine farm is the largest floating offshore wind power facility in the world. Floating turbines are the next step inthe evolution of offshore wind technology. Annual reports will be made available to the lenders.
Transbay Joint Powers Authority (USD271m), USA, had its debut green issuance with a 29-year US Muni that willrefinance the issuer’s expenditure on the development of the Transbay Transit Center: a new landmark transport
development that will serve as a public transport hub in downtown San Francisco. The instrument is Certified against the
Low-Carbon-Transport criteria of the Climate Bonds Standard and replaces the older Transbay Terminal. The issuer willreport annually and publicly on the allocation of proceeds through the EMMA reporting framework.
Geysers Power Company (USD900m), USA, took out its debut green loan Certified against the Geothermal criteria. It willrefinance investments in the firm’s geothermal plants, as well as ongoing expenditures. The instrument will mature in 7
years. GPC is the single largest geothermal power producer in the United States and contributes 10% of the renewableenergy generated in California. Annual reports will be made available to the lenders.
Ma'anshan Rural Commercial Bank (RMB400m/USD56m), China, issued its debut green bond Certified against the Water
Infrastructure and Solar Criteria. The instrument will mature in 3 years’ time. Proceeds will be used to refinance the bank’s
lending to projects located in Anhui province. This includes one solar photovoltaic generation facility with a capacity of 40
MW and 11 sewage treatment plants. They include 10 plants for municipal wastewater and one plant for industrial
wastewater. Annual reports with details of the allocation of proceeds will be made available publicly on the issuer’s
website before April each year.

New issuer spotlight
Cadent Gas Limited (EUR500m/USD555.8m), United Kingdom, came to market with an inaugural 12-year instrument
issued in March 2020. DNV GL provided an SPO on the company’s framework. Cadent names four eligible project
categories: retrofit of gas transmission and distribution networks, renewable energy, clean transportation, and energy
efficient buildings. Types of projects within each category have been outlined and selection criteria are in place. These arealigned with the relevant thresholds set out in the EU Sustainable Finance Taxonomy.
Impact and allocation reporting will be available within one year from issuance and annually thereafter until full allocation
in a standalone publication, including reporting on any material changes. The allocation report will comprise a list ofeligible projects (re)financed, the aggregated amount of allocation of the net proceeds at category level, the proportion of
net proceeds used for financing versus refinancing, and the balance of any unallocated proceeds. Where feasible, there
will be impact reporting against a range of KPIs.
Climate Bonds view: Business transitions to low-carbon activities, and therefore transition bonds, play an increasingly
important a role in the debt capital markets. There have been few such bonds so far, with Marfrig (Brazil) being the firstissuer last year in September to use this particular label.

4Cadent’s deal marks the first of its kind in the UK and the small number of transition bonds in the market underscores thefact that transition instruments remain in still rather uncharted, although rapidly evolving, territory. Whilst the subject issomewhat controversial and heavily debated in the finance community, transition bonds present significant potential tofacilitate climate change mitigation projects in hard-to-abate industries. As such, Cadent’s bond is a good example forfinancing projects that are ambitious enough to be classified as green under the Climate Bonds Taxonomy. By doing so, thedeal also contributes to the UK’s National Adaption Plan.

National University of Singapore (SGD300m/USD222m), Singapore, completed its inaugural issuance with a 10-year
instrument assured by EY. The framework covers eligible projects falling under green buildings/precinct; renewable energy
and energy efficiency infrastructure and systems; sustainable water and wastewater management; pollution prevention andcontrol; as well as environmentally sustainable management of living natural resources and land use.
Starting from the first anniversary of its inaugural issuance, the National University of Singapore will report on an annual
basis until full allocation. For loans there will be a report available to the lenders upon request.
Climate Bonds view: This is the first university in Asia to issue a green bond. The framework is very informative andcomprehensive, providing a good level of transparency for investors. Not many universities have issued green bonds andmost of the volume currently comes from the US and Australia. The National University of Singapore has raised one of thelargest amounts of funding among all the universities active in the green bond market.

Statnett SF (NOK1.3bn/USD129m; SEK2.3bn/USD241m), Norway, had its debut issue with two green senior unsecured
bonds, both maturing in 3 years and benefitting from an SPO supplied by CICERO. The bonds will finance projects associatedtransmission grid infrastructure, including grid reinforcements and upgrades to connect new renewable power production
and to enable the efficient use of clean energy, as well as interconnectors between regions or countries to increase themarket for renewable energy.
There will be an annual green bond investor newsletter, which will include a list of projects financed with a brief description
and expected impact (where feasible), split between financing versus refinancing and a summary of the company’s green
bond development.
Climate Bonds view: Whilst renewable energy generation plays an important role in climate change mitigation, transmission
grids are a crucial part in realising the benefits by connecting these renewable sources to the grid and distributing it to where
the demand is. Grids can also be made more efficient so that less energy gets lost whilst travelling from the source to theend-user. More companies are recognising this potential and are making such amendments. We welcome Statnett SF to themarket with two bonds as inaugural issuance: one SEK and one NOK denominated instrument.

SSB Boligkreditt (NOK300m/USD31m), Norway, issued its first green covered bond with a 5-year original tenor.
Sustainalytics provided an SPO on the framework. The funding will go towards financing/refinancing loans for new
residential buildings belonging to the top 15% most energy efficient buildings of the local building stock. Refurbishedresidential buildings that achieved energy savings of at least 30% compared to the baseline can also qualify. There are threecriteria that must be fulfilled in order to be considered eligible.
There will be impact and allocation reporting on an at least annual basis on the company website until full allocation. The
allocation report will include the total amount of proceeds allocated, the number of loans in the portfolio, the amount andpercentage of financing versus refinancing, and unallocated proceeds. Potential impact reporting indicators include, forexample, estimated ex-ante annual energy consumption and estimated annual greenhouse gas emissions reduced.
Climate Bonds view: There is only a small list of countries from which green covered bonds have been issued. Norway takes
up almost a third of this issuance. Scandinavia has a large covered bond market and Norway’s volume currently adds up to
USD150bn. Covered bonds are considered a very secure investment and are therefore popular amongst certain investor
groups. Marrying this structure with green proceeds is a very valuable combination, which has the potential to extend theissuer’s the investor base beyond the “vanilla scope”.

5Granite REIT Holdings (CAD500m/USD384m), Canada, entered the market with a seven-year senior unsecured green debut
benefitting from an SPO provided by Sustainalytics. The following categories are eligible under the framework: green
buildings, resource efficiency and management, clean transportation, renewable energy, pollution prevention and control
and biodiversity and conservation.
Until full allocation Granite will provide allocation and impact reporting on an annual basis on its website or annual report.
The allocation report will include a list of the eligible green projects and the respective amounts and a balance of unallocatedproceeds. The impact report will consist of the level of green building certifications attained, as well as other impact metrics
where feasible (e.g. annual energy saved, renewable energy generated).
Climate Bonds view: This is the first REIT from Canada to issue a green bond. It is good to see that the framework covers abroad spectrum of categories – this is rather rare for REITs, which typically focus on financing green buildings or renewableenergy projects. The reporting the company has committed to is very detailed, which we encourage and applaud.

New issuers continued...
Public Sector•••

Borough of Grove City (USD9m), USA, 29.5Y original term, assured by BAM GreenStar.
Park City (Utah) (USD76m), USA, 19.5Y original term, SPO provided by Kestrel Verifiers.
Massachusetts Housing Finance Agency (USD122m), USA, 10Y original term, no third-party review provided.

Non-Financial Corporates•••

Cibus Nordic Real Estate (SEK600m/USD63m), Sweden, 3Y original term, SPO provided by Sustainalytics.
Eurus Energy Holdings Corporation (JPY10bn/USD93m), Japan, 4Y original term, rated Green 1 by JCRA.
Asahi Kasei Corp (JPY10bn/USD92m), Japan, 5Y original term, SPO provided by Sustainalytics.

Visit our Bond Library for more details on June deals and a full history of debut green issuances going back to 2017.

Green bond outlook – selected deals
Issuer NameCountry

Closing Date

SourceMetropolitan Life Global Funding I
Ghelamco Invest
Hyundai Capital Services
Sparebanken Vest
Bayerische Landesbank
ReginnConnecticut Green Bank

USA
BelgiumSouth Korea
NorwayGermany
IcelandUSA

02/07/2020
03/07/2020
06/07/2020
08/07/2020
16/07/2020
23/07/2020
29/07/2020

Bloomberg
Oblis
Global Capital
Global Capital
Bayern LB
ReginnConnecticut Green Bank

Multiple institutions have issued green bonds in July already. Amongst them are newcomers such as Metropolitan Life
Global Funding (USA) and Sparebanken Vest (Norway). Ghelamco Invest (Belgium) returned with its second green bond.
Further scheduled deals will come from two more financial institutions: Bayerische Landesbank (Germany) andConnecticut Green Bank (USA).
Additional issuance potential exists as well. For example, Daimler (Germany) has published its Green Finance Framework
and Japanese machinery manufacturer Komatsu Ltd is planning to issue a green bond soon, potentially this month.

6

Sovereign Green Bond Club
Bhutan may be added to the member list as it has been getting technical assistance for issuing a green bond – which may
take place as soon as this year. This would make it the first least developed and landlocked developing country to issue
such a bond. At the same time, Uzbekistan is considering issuing a green sukuk. The Sovereign will likely be the first green
bond to come from the nation.
Germany has announced that its long-awaited green debut will be a 10-year instrument hitting the market in September
with potentially more to follow this year. Austria is eyeing a green Sovereign in 2020 as well.

Data and references
Repeat issuers in June

Repeat issuers: January to May 2020 (not previously included)
•
•
•
•
•
•
•
•

Deutsche Hypo: EUR50m/USD55.6m - May 2020
Dutch State Treasury Agency: EUR1.4bn/USD1.5bn - January 2020
EIB (European Investment Bank): EUR250m/USD277.9m - January 2020
Fannie Mae: USD250.6m (11 deals) - May 2020
Guangdong Electric Power Development Company: CNY300m/USD43.2m - April 2020
Huaneng Tiancheng Financial Leasing Co.,Ltd.: CNY500m/USD71.4m - March 2020
Nanjing Metro Group Co.,Ltd: CNY2.8bn/USD398.1m - February 2020
Vasakronan: EUR10m/USD11.1m - May 20207

Pending and excluded bonds
We only include bonds with at least 95% proceeds dedicated to green projects that are aligned with the Climate Bonds
Taxonomy in our green bond database. Although we support the Sustainable Development Goals (SDGs) overall and see
many links between green bond finance and specific SDGs, in particular SDGs 6, 7, 9, 11, 13, 14 and 15, the proportion ofproceeds allocated to social goals should be no more than 5% for inclusion in our database.

Excluded
Issuer Name

Amount issued

Issue dateReasonShenzhen Metro Group Co.,Ltd.

CNY1bn/USD144m

24/03/2020

General operating expenditure

Suining Hedong Development
Construction Investment Co., Ltd.
Liuzhou Investment Holding Co.,Ltd

CNY400m/USD57.6m

23/06/2020

General operating expenditure

CNY1bn/USD144m

22/06/2020

General operating expenditure

Gongan County Urban Construction
Investment Co.,Ltd.
Mitsubishi UFJ

CNY800m/USD115.2m

19/06/2020

General operating expenditure

EUR500m/USD555.8m

09/06/2020

Sustainability/Social bond

CREDIT MUTUEL ARKEA

EUR750m/USD833.6m

11/06/2020

Sustainability/Social bond

China Resources and Environment
Co.,ltd.
Guangzhou Metro Group Co.,Ltd.

CNY15m/USD2.2m
CNY285m/USD41m
CNY1.5bn/USD216m
CNY1.5bn/USD216m
CNY3bn/USD432m

05/06/2020
05/06/2020
27/05/2020
27/05/2020
22/05/2020

General operating expenditure
General operating expenditure
General operating expenditure
General operating expenditure
General operating expenditure

CNY500m/USD72m

20/05/2020

GB not aligned

CNY1.5bn/USD216m

19/05/2020

GB not aligned

CNY1.2bn/USD172.8m
CNY1.2bn/USD172.8m
CNY1bn/USD144m
CNY2bn/USD288m
CNY900m/USD129.6m

07/05/2020
07/05/2020
30/04/2020
30/04/2020
29/04/2020

General operating expenditure
General operating expenditure
GB not aligned
GB not aligned
General operating expenditure

EUR700m/USD778.1m

03/06/2020

Sustainability/Social bond

BBVA

EUR1bn/USD1.1bn

04/06/2020

Sustainability/Social bondRegion Wallonne Belgium

EUR1bn/USD1.1bn

05/06/2020

Sustainability/Social bond

Huadian Fuxin Energy Corporation
LimitedHuaneng Lancang River Hydropower
Inc.
Beijing Jingneng Clean Energy Co.,
Limited
Yushen Energy Development
Construction Co. Ltd.
China Three Gorges Corporation
Beijing Enterprises Clean Energy
Group Limited
CAF

Pending
Issuer Name

Amount issued

Issue dateReasonDeutsche Hypothekenbank AG

EUR10m/USD11.1m

30/06/2020

Insufficient information

Aargauische Kantonalbank

CHF100m/USD103m

29/06/2020

Insufficient information

Xylem INC
Niagara Mohwak Power

USD500m
USD500m
USD600m

26/06/2020
26/06/2020
25/06/2020

Insufficient information
Insufficient information
Insufficient information

Livent Corp

USD225m

23/06/2020

Insufficient information

Hypo Neo

EUR500m/USD564.3m

25/06/2020

Insufficient information

Grieg Seafood ASA

NOK1bn/USD104.4m

25/06/2020

Insufficient information

8

NTT Finance Corp

JPY40bn/USD374.8m

25/06/2020

Insufficient information

LBBW

EUR24m/USD27.1m
EUR24m/USD26.7m
EUR24m/USD26.7m
EUR24m/USD26.7m
HKD380m/USD49m
HKD750m/USD96.8m
USD350m

25/06/2020
04/06/2020
04/06/2020
04/06/2020
22/06/2020
18/06/2020
22/06/2020

Insufficient information
Insufficient information
Insufficient information
Insufficient information
Insufficient information
Insufficient information
Insufficient information

EUR15m/USD16.8m

19/06/2020

Insufficient information

Forest Company do Brasil
Participacoes SA
BK Brasil Operação e Assessoria a
Restaurantes SA
Echoenergia

BRL39.4m/USD9.6m

17/09/2019

Insufficient information

BRL18.6m/USD4.5m

01/09/2019

Insufficient information

BRL40m/USD9.7m

31/07/2018

Insufficient information

Micro, Small & Medium Enterprises
Bonds (Symbiotics)
Yalong River Hydropower
Development Company, Ltd.
Huaneng Lancang River Hydropower
Inc.
Chengdu Xinjin Shuicheng Water
Investment Co.,Ltd
Fujian Yongrong Holding Group
Co.,Ltd
Chongqing Rail Transit (Group)
Co.,Ltd.
Snam SpALKR1.4bn/USD7.7m

12/06/2020

Insufficient information

CNY1bn/USD144m

28/05/2020

Insufficient information

CNY1bn/USD141.1m

19/06/2020

Insufficient information

CNY500m/USD70.5m

16/06/2020

Insufficient information

CNY300m/USD42.5m

16/04/2020

Insufficient information-

27/02/2020

Insufficient information

EUR500m/USD564.9m

17/06/2020

Insufficient information

Town of Wareham

18/06/2020

Insufficient information

Enexis Holding NV

USD13.5m (20Tranches)
ZAR250m/USD14.5m
JPY409m/USD3.8m
JPY590m/USD5.4m
USD10m
USD10m
EUR500m/USD564.9m

18/06/2020
01/06/2020
01/06/2020
05/06/2020
04/06/2020
17/06/2020

Insufficient information
Insufficient information
Insufficient information
Insufficient information
Insufficient information
Insufficient information

Muenchener Hypothekenbank eG

EUR10m/USD11.3m

17/06/2020

Insufficient information

Shenzhen Guofu Baoli Co.,Ltd.

CNY96m/USD14m

06/06/2019

Insufficient information

Jiangsu Shengze Investment Co.,Ltd

CNY200m/USD28.8m

10/01/2020

Insufficient information

Huaneng Tiancheng Financial Leasing
Co.,Ltd.
Shouguang Huinong New Rural
Construction Investment
Development Co., Ltd.
Huadian Power International
Corporation Limited
Zhuzhou Geckor Group Co.,Ltd

CNY500m/USD72.3m

13/01/2020

Insufficient information

CNY500m/USD71.1m

25/02/2020

Insufficient information

CNY1.5bn/USD211.5m

13/02/2020

Insufficient information

CNY0m/USD0.3m

27/02/2020

Insufficient information

Datang Financial Leasing Co.,Ltd.

CNY0m/USD0.3m

03/03/2020

Insufficient information

Laiwu Minsheng Industrial Co.,Ltd.

CNY500m/USD70.7m

17/04/2020

Insufficient information

Telia

SEK750m/USD79.3m

10/06/2020

Insufficient information

Swire Property
Castle Peak Power Finance Company
Ltd
NatixisCredit Agricole

9KEPCO

USD500m

15/06/2020

Insufficient information

Deutsche Bank

EUR500m/USD555.8m

10/06/2020

Insufficient information

Chongqing Changshou Ecological
Tourism Development Group Co.,Ltd.
Soochow Jinqiang New Materials Co.,Ltd.
Zhejiang Deqing Transportation
Investment And Construction Co., Ltd
Taizhou, Zhejiang Expressway Group
Co., Ltd.
Wuhan Chedu Sishui Co-Governance
Project Management Co., Ltd.
Taizhou Vincellar Culture Industry
Development Co.,Ltd.
Shuntai Leasing Company Limited

CNY0m/USD0m

29/05/2020

Insufficient information

CNY20m/USD2.9m

28/05/2020

Insufficient information

CNY900m/USD129.6m

06/05/2020

Insufficient information

CNY60m/USD8.6m

06/05/2020

Insufficient information

CNY1bn/USD144m

29/04/2020

Insufficient information

CNY400m/USD57.6m

29/04/2020

Insufficient information

Beijing China Oversea Plaza Business
Development Co., Ltd.
Hungary

CNY59m/USD8.5m
CNY42m/USD6m
CNY17.7m/USD2.5m
CNY1m/USD0.1m
CNY3.7bn/USD532.8m
EUR1.5bn/USD1.7bn

29/04/2020
29/04/2020
29/04/2020
28/04/2020
28/04/2020
05/06/2020

Insufficient information
Insufficient information
Insufficient information
Insufficient information
Insufficient information
Insufficient information

Mtr Corp Ltd

CNY220m/USD31.7m

05/06/2020

Insufficient information

BASF

EUR1bn/USD1.1bn

05/06/2020

Insufficient information

City of Gothenburg

SEK500m/USD52.9m

03/06/2020

Insufficient information

As always, your feedback is welcome!
Watch this space for more market developments. Follow our Twitter or LinkedIn for updates. E-mail data requests todataenquiries@climatebonds.net.

Don’t forget, registrations have just opened for Climate Bonds Conference 8-10 September 2020! All online. Moreinformation here.

‘Till next time,
Climate Bonds

Disclosure: Some of the organisations mentioned in this communication are Climate Bonds Partners. A list of Partners isavailable here.
Disclaimer: The information contained in this communication does not constitute investment advice in any form and the Climate Bonds Initiative is not an
investment adviser. Any reference to a financial organisation or debt instrument or investment product is for information purposes only. Links to external
websites are for information purposes only. The Climate Bonds Initiative accepts no responsibility for content on external websites.
The Climate Bonds Initiative is not endorsing, recommending or advising on the financial merits or otherwise of any debt instrument or investment product andno information within this communication should be taken as such, nor should any information in this communication be relied upon in making any investment
decision.
Certification under the Climate Bond Standard only reflects the climate attributes of the use of proceeds of a designated debt instrument. It does not reflect thecredit worthiness of the designated debt instrument, nor its compliance with national or international laws.
A decision to invest in anything is solely yours. The Climate Bonds Initiative accepts no liability of any kind, for any investment an individual or organisation
makes, nor for any investment made by third parties on behalf of an individual or organisation, based in whole or in part on any information contained within
this, or any other Climate Bonds Initiative public communication.

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