Poland pioneers green bonds
Poland pioneered the sovereign segment of green bond issuance as it placed €750mn of the instrument with international investors on December 12.
The proceeds will finance “pro-environmental investment,” the finance ministry said. Poland sold the green bonds - which mature in 2021 - at 48bp over mid-swaps, achieving a yield of 0.634%, the ministry said.
“The yield [we] achieved is analogous to what we would achieve in the case of a standard bond issue of the same maturity on the euro market,” deputy Finance Minister Piotr Nowak said in a statement.
The ministry claimed there was a huge interest in the placement from investors during a roadshow that took place last week in the UK, France, the Netherlands, Germany, and Norway.
Poland, whose credentials for pro-environmental policy have come into question under the current administration, says it will publish detailed information on the projects backed by the money raised. The information will be available within 12 months.
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