December 18 (Renewables Now) - Belgium will launch its first green bond issuance next year, planning to sell between EUR 3 billion (USD 3.5bn) and EUR 5 billion of green bonds for a start.
The plan was announced by the country’s prime minister Charles Michel during the Paris Climate Summit last week. According to a spokesperson for the minister of finance, Johan Van Overtveldt, quoted by Reuters, the government has hired BNP Paribas (EPA:BNP) and Credit Agricole (EPA:ACA) as financial advisers on the deal.
The finance minister himself told Reuters that the coupon on the bond will be equal to or slightly lower than these on regular government bonds.
Green bond issuance so far in 2017 has reached USD 116.8 billion, up from USD 81.6 billion for the whole of 2016, according to the Climate Bonds Initiative (CBI).
(EUR 1.0 = USD 1.176)