London Stock Exchange celebrates Standard Chartered PLC EUR1bn inaugural Green bond
Standard Chartered is a leading international cross-border banking group listed on both the London and Hong Kong Stock Exchanges, with operations in more than 50 markets worldwide. More than 85 per cent of its income is generated across Asia, Africa and the Middle East, where the Group focuses on connecting capital to growth across some of the world’s fastest-growing economies.
Today, Standard Chartered is opening the market to mark the listing of its EUR 1 billion 8NC7 Inaugural Green Senior Bond on the London Stock Exchange. This is the Group’s fifth sustainable finance issuance and its first bond issued in a green-only format. The transaction was launched on a particularly active day in the EUR investment-grade credit market and attracted demand from a broad international investor base, with an order book exceeding EUR 3 billion. The bond was priced at a spread of 105 basis points and a yield of 3.717%.
The net proceeds from the Green Bond will be allocated in accordance with Standard Chartered's Sustainability Bond Framework to finance or refinance eligible green projects that support emissions reductions, improve energy and resource efficiency, enhance climate adaptation and resilience and enable more sustainable use of natural resources. The issuance references the Group's Sustainable Finance asset pool, which as of 30 September 2024, comprises USD 17.4 billion of green assets across 355 projects and 10 thematic areas, such as renewable energy, green buildings, clean transportation and climate-resilient infrastructure, with more than 70 per cent of asset value located in Asia, Africa and the Middle East.
The inaugural Green Bond forms part of Standard Chartered's broader approach to supporting clients and projects contributing to a lower-carbon and more resilient global economy, particularly in markets that need it the most.
“Our first Sustainable Finance issuance in a Green-only format is an important milestone and demonstrates Standard Chartered's unique 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 that sits at the centre of capital, trade and investment flows, across both developed and developing economies, this issuance highlights how we’re providing financial solutions to support long-term growth across our markets.”
Diego De Giorgi
Group Chief Financial Officer
