EU bank issues €600m green bond

The European Investment Bank (EIB) has issued a new €600 million (£439m) green bond. The transaction takes the total investment in the Climate Awareness Bond (CAB) to €10 billion (£7.3bn). […]

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The European Investment Bank (EIB) has issued a new €600 million (£439m) green bond.

The transaction takes the total investment in the Climate Awareness Bond (CAB) to €10 billion (£7.3bn).

CABs provide investors with the opportunity to invest in projects contributing to climate action.

Projects will range from wind farms and geothermal production to building insulation, district heating and replacing equipment with energy efficiency improvements.

The bond generated “strong demand from a range of investors genuinely interested” in the transaction, EIB said.

It added: “Particularly from the Netherlands which accounted for 27% of distribution.”

Eila Kreivi, Director and Head of Capital Markets Department at the EIB, said: “Green Bonds have gained recognition on the international climate agenda. EIB has made a strategic commitment to spur further sustainable growth of this market.”

The bank launched its first CAB in pounds sterling last year.

Recently the first ever green Indian rupee bond was issued outside India.