BNG Bank successfully launches a 10-year Kangaroo Renewable Energy Bond
24 January 2019
On 23rd January 2019, BNG Bank, launched a new AUD 25 million January 2029 'Renewable Energy Bond' in private placement format. An amount equivalent to the net proceeds of BNG Bank’s Renewable Energy bond will be earmarked and allocated to financing renewable energy projects.
This Renewable Energy bond will notably finance a wind energy project based in the Netherlands.
This new issue is in line with the UN Sustainable Development Goal 7 'Affordable & Clean Energy', which aims to increase substantially the share of renewable energy in the global energy mix by 2020.
Sustainable, reliable and professional are the core values embraced by BNG Bank. Sustainable is defined by BNG Bank as simultaneously serving the interest of people, planet and profit. This principle is inextricably linked to our mission. To implement this, the bank encourages clients to take initiatives aimed at creating a more sustainable society and organises its operations to guarantee professionalism and low environmental impact.
Daiwa was sole lead manager on BNG Bank’s AUD Renewable Energy Bond. 'Daiwa is thrilled to be partnering BNG Bank on this significant new trade financing renewable energy and particularly a wind energy project early in a new year. That promises to be an important one for embedding the SDGs ever more deeply in the mainstream of the primary markets. BNG Bank has been a prestigious, committed and regular driver of such initiatives consistently over many years and across many markets and currencies, and Daiwa too has been prioritizing the development, the deepening and the widening of this market for over a decade', said Vince Purton, Head of DCM at Daiwa.