June 26 (Renewables Now) - Chile issued on Tuesday euro-denominated sovereign green bonds raising EUR 861 (USD 978.2m) million, one week after a USD-1.418-billion (EUR 1.2bn) green issuance.
The Chilean finance ministry said the latest bond was oversubscribed more than four times with orders surpassing EUR 4 billion. The bond matures in 2031 and comes with an interest rate of 0.83%.
Last week, Chile debuted on the sovereign green bond market with a USD-1.418-billion placement due in 2050.
The proceeds will be used to support activities in six sectors defined as green -- clean transportation, energy efficiency, renewable energy, living natural resources, land use and marine protected areas, water management and green buildings. The portfolio of projects is certified by the Climate Bond Initiative (CBI).
Chile is the first country in the Americas to issue a sovereign green bond. So far, the group of green sovereign issuers includes Poland, France, Nigeria, Fiji, Belgium, Indonesia, Lithuania, Republic of Seychelles, Ireland and the Netherlands, according to CBI.
(EUR 1.0 = USD 1.14)