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Ireland pockets EUR 3bn from maiden green bond sale

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October 11 (Renewables Now) – Ireland’s National Treasury Management Agency (NTMA) has raised EUR 3 billion (USD 3.46bn) in its inaugural sovereign green bond issue, the state debt manager announced on Wednesday.

The sale of the 12-year bond attracted strong demand, with around 95% of the investment coming from non-Irish investors. The offering was launched by the NTMA in order to diversify its issuance and gain access to a new investor category. Funds from it will be for green projects addressing climate change mitigation and adaptation, water and natural resources depletion and the reduction of air pollution, NTMA said on announcing plans for the issue last month.

Funds in the transaction, with an order book exceeding EUR 11 billion, were raised at a yield of 1.399%. Among 23% of the investors were from the UK, 19% from Germany/Austria and France each and 12% from the Nordics.

In terms of investor categories, asset managers and banks took a lead with 33% of the subscriptions, while 19% came from the pension and insurance sector.

Through the issue, Ireland joins the club of European countries that have already issued green bonds. The first that offered such financial instruments was Poland, which in 2016 raised EUR 750 million from selling five-year green bonds. France and Belgium followed suit later.

(EUR 1.0 = USD 0.155)

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Veselina Petrova is one of SeeNews Renewables most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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