SEB, the Nordic bank, has pointed to a new record level of issuance in the first month of the year, which has lifted the market by 17% year-on-year.
Through the first week of February, issuance hit $25bn, setting the market on a full-year trajectory estimated at $120-$240bn. Considering all sustainable debt instruments, including green bonds, industry issuance hit $31bn.
Other key growth metrics include: 16 jurisdictions featured green bond issuance in the first months of the year, compared to 12 in 2018; activity in the top four countries – US, France, Canada, Spain – was up by double and triple digit figures; issuance in Sweden was up more than 400% to $1.3bn compared to the year earlier period; and SEK denominated instruments accounted for 66% of all green bond issuance in January.
SEB’s forecast for the full year is above expectations by Moody’s Investor Service of $200 billion; S&P Global Ratings of $180 billion and HSBC of $140-180 billion.
Source Investment Europe