Standard Chartered has marked the listing of its inaugural green-only bond with the launch of a €1 billion 8NC7 Green Senior Bond on the London Stock Exchange.
The transaction represents the bank’s fifth sustainable finance issuance and its first issued exclusively in a green format. Launched on an active day for the euro investment-grade credit market, the bond attracted demand from a broad international investor base, with orders exceeding €3 billion. It was priced at a spread of 105 basis points, with a yield of 3.717%.
Net proceeds from the bond will be allocated in line with Standard Chartered’s Sustainability Bond Framework to finance or refinance eligible green projects. These include initiatives supporting emissions reductions, improved energy and resource efficiency, climate adaptation and resilience, and the sustainable use of natural resources.
The issuance references the bank’s sustainable finance asset pool, which as of 30 September 2024 totalled $17.4 billion in green assets across 355 projects and 10 thematic areas, including renewable energy, green buildings, clean transport and climate-resilient infrastructure. More than 70% of the asset value is located in Asia, Africa and the Middle East.
Standard Chartered operates in more than 50 markets globally, with over 85% of its income generated across Asia, Africa and the Middle East.
Diego De Giorgi, Group Chief Financial Officer, said: “Our first Sustainable Finance issuance in a Green-only format is an important milestone and demonstrates Standard Chartered’s ability to raise capital in the world’s largest financial centres and deploy it across borders, into those markets where the need for sustainable finance is most acute. As a global bank at the centre of capital, trade and investment flows across developed and developing economies, this issuance highlights how we are providing financial solutions to support long-term growth across our markets.”
