EIB mandates banks for third Kangaroo climate awareness bond


SYDNEY, May 27 (IFR) - The European Investment Bank (Aaa/AAA/AAA) has mandated Nomura, RBC Capital Markets and TD Securities as lead managers for a long five-year (November 15 2024) A$300m (US$205m) minimum Kangaroo climate awareness bond issue.

The indicative margin is asset swaps plus 38bp. The bond's proceeds will be allocated to activities that contribute to climate change mitigation.

This is the EIB's third Kangaroo climate awareness bond and the second non-euro-denominated CAB whose proceeds will fund the work of the European Commission and its technical expert group on the EU sustainability taxonomy.

EIB debuted in the market in July 2017 with a A$200m 10.5-year Kangaroo CAB which has subsequently been increased to A$1.25bn.

The suprantaional issued a A$750m five-year Kangaroo CAB in January 2018.

(Reporting by John Weavers; Editing by Vincent Baby)

((john.weavers@thomsonreuters.com; 612 9373 1655; Reuters Messaging: john.weavers.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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