Bank of Ireland has raised €750 million from a new green bond to finance more climate action projects in renewable energy and green buildings.
The bank said there was strong demand from investors with orders in excess of €4.6 billion and more than 220 investors participating.
The bond, which was issued with a seven-year maturity and a fixed coupon of 3.625%, brings Bank of Ireland’s total green bond issuance to date to €5.6 billion.
The bank’s sustainability-related lending grew by almost a third last year to €14.7 billion, putting it on track to deliver its end-2025 target of €15 billion earlier than anticipated.
“We are delighted by the exceptionally strong demand for this latest green bond, which reflects investor confidence in Bank of Ireland’s strategy and commitment to providing sustainable finance,” said Eamonn Hughes, Chief Sustainability and Investor Relations Officer.
“Our range of sustainable finance products – including green mortgages, loans for eco-friendly cars, and sustainability-linked lending for SMEs and farmers – have been carefully designed to help customers make real, impactful changes.
“This bond will help us build on the progress we’ve made so far in supporting the move to a low-carbon future. Our medium-term ambition for supporting the green transition remains €30 billion by 2030 and reaching this will require further innovative solutions for customers including our corporate and business customers.”
The lead arrangers for the transaction were Davy, HSBC, ING, Morgan Stanley, Société Générale and UBS.
