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NAB secures strong support for latest green bond

NAB secures strong support for latest green bond | Fintech Finance

NAB has received strong support for its latest green bond, pricing a €1bn deal after receiving around €2.3bn worth of orders last week.

The proceeds will be allocated against projects that meet the eligibility requirements of the Climate Bonds Standard Sector Criteria, such as renewable energy projects and green buildings.

NAB Group Treasurer Tom Wirth said the deal again showed the significant interest in sustainable investments, despite some challenging recent market conditions.

“It’s been great to see such strong demand during a period of market volatility,” Mr Wirth said.

“The funding supports the resilience of our balance sheet and we’re pleased to have a quality pool of global investors back our latest green bond.”

Mr Wirth added the deal solidified NAB’s position as the largest bank issuer of green bonds in Australia1and contributed to the bank’s climate change strategy and commitment to supporting a net-zero economy by 2050.

“In April, NAB updated its Green Bond Framework to ensure we continue to meet evolving global standards,” he said.

“We are focused on aligning our business to support the transition to net zero, and this includes working with our customers to help them decarbonise. Our green bond issuance is one part of our climate change strategy as we invest in the opportunities associated with the transition to a low emissions economy.

“We’re proud to be the largest bank issuer of green bonds in Australia and will continue to pursue sustainable debt funding options.”

NAB has now issued five Climate Bond Initiative (CBI) certified green bonds and one CBI certified green RMBS tranche since becoming the first Australian issuer of a Certified Green Bond under the Climate Bonds Standard in 2014.

NAB has also closed six ESG-linked derivatives in the European market and one in Australia, and one ESG-linked FX derivative.

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