EIB increases Climate Awareness Bond to €1B

The European Investment Bank (EIB) has increased the Climate Awareness Bond (CAB) 2023 by €400 million to bring the total amount outstanding to €1 billion.

The bond completes EIB’s € Green Bond curve with a third liquid reference point in an intermediate maturity and takes the total CAB issuance to €10.5 billion.

It is EIB’s third CAB distributed in mini-benchmark/ECoop format, which foresees a size of at least €500 million and €250 million minimum re-openings upon actual demand.

The €3 billion ECoop CAB due November 2019 is currently the largest Green Bond outstanding, while the €1.25 billion CAB due 2026 is the longest outstanding Green benchmark in the market, EIB’s press release reads.

Tanguy Claquin, Head of Sustainable Banking at Credit Agricole CIB, said: “The European Investment Bank demonstrates once again its commitment to the growing Green Bond market by bringing a third Climate Awareness Bond above the €1 billion mark. The EIB is undoubtedly a key provider of liquidity for Green Bond funds and dedicated Green Bond portfolio.”

The maturity date for the new bond issue is November 15, 2023.

CABs, EIB Green Bonds, provide investors with the opportunity to associate their investment with EIB’s lending in the areas of renewable energy and energy efficiency, while enjoying the credit quality of EIB as an issuer.

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

Image: EIB