National Australia Bank has released a new bond which investors can use to support the delivery of renewable energy projects and environmentally-friendly infrastructure.
NAB launched the “groundbreaking” green bond for the Treasury Corporation of Victoria (TCV), which aims to assist the finance and refinancing of the state’s investments in energy efficiency, renewable energy generation, low carbon public transport and energy efficient water treatment.
Victorian Treasurer Tim Pallas said the new transaction will be weighty for Australian investors who are interested in delivering these resources to Victoria.
“Victorian Green Bonds offer investors the confidence of an AAA-rated government security, with the assurance that the funds will be used for ethical investments that deliver important environmental or climate change outcomes,” Mr Pallas said.
Some of the projects to benefit from this new bond include LED traffic lights, low-carbon buildings at Melbourne’s Federation Square and the development of a large-scale renewable energy power station.
NAB executive general manager capital financing, Steve Lambert, said the transaction demonstrates the big four bank’s long-term commitment to green bonds and the investment in renewable energy.
“We are very proud to have led this green bond, which will help finance a number of energy efficient, critical infrastructure projects throughout Victoria,” Mr Lambert said.
“NAB is committed to helping finance $18 billion of renewable energy projects over the next seven years and this world first for NAB in the green bond market is another step towards achieving that goal.
“This transaction follows our own inaugural Climate Bond Certified issuance in 2014, as well as the world first Climate Bond Certified Green ABS securitisation transaction for FlexiGroup Limited in April this year, for which NAB was the sole arranger and joint lead manager.”
Former CEO of ING Direct Vaughn Richtor will assume the role of chairman at MyState following the retirement of Miles Hampton, the compan...