By Lisa Kerner
Charlotte, N.C., Nov. 24 The European Investment Bank (EIB), BNP Paribas and Vigeo announced the issuance of a 500 million equity index-linked bond in the climate awareness bond format through Tera Neva, a new sustainable investment solution.
The bond matures on May 18, 2029.
The group of institutional investors investing in Tera Neva includes ACMN Vie, Aviva France, Carac, BNP Paribas Cardif, CNP Assurances, ERAFP, Generali, Groupama, HSBC Assurances, Natixis Assurances, Prevoir and Suravenir.
The transaction, arranged by BNP Paribas, is 100% capital guaranteed, according to a news release.
Payoff is linked to the performance of the Ethical Europe Climate Care index over the life of the bond, floored at zero and paid at maturity.
The issue date is Nov. 13, and the payment date is Nov. 18.
Since 2007, climate awareness bond issuance has reached almost 11 billion, according to Bertrand de Mazieres, director general of finance.
Tera Neva enables investors to combine financial performance with climate conscious investing, and demonstrates our willingness to cater to investor demand for tailor-made climate finance products, de Mazieres said.
EIB, the lender for the European Union, is based in Kirchberg, Luxembourg.
| Issuers: | European Investment Bank
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| Issue: | Tera Neva climate awareness bond
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| Amount: | 500 million
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| Denominations: | 100,000
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| Maturity: | May 18, 2029
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| Arranger: | BNP Paribas
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| Pricing date: | Nov. 13
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| Settlement date: | Nov. 18
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| Listing: | Luxembourg
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| ISIN: | XS1317148580
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