Barclays has raised £400m through the issue of its second green bond, which it intends to use to support climate-related products and initiatives.
The 2020 Green Bond, which matures in 2026, attracted investor interest with orders amounting to more than £2bn. It will offer a yield of 1.7 per cent.
The funds raised will be allocated towards the financing or re-financing of mortgages on energy efficient residential properties in England and Wales originated within the last three years.
More than half the funds raised will be allocated to refinance Barclays’ Green Home Mortgage Product mortgages, which are offered to customers at a discount provided their property meets certain energy efficiency thresholds.
Sasha Wiggins, group head of public policy and corporate responsibility, said: “Barclays has been a leading participant in the green bonds market for over five years and the strong demand for our 2020 green bond underlines the continuing high levels of interest in securities that are used to fund climate-friendly activities. Barclays is committed to aligning its financed emissions with the goals of the Paris Agreement, and has set an ambition to reduce those emissions to net-zero by 2050. We are accelerating the transition to a low-carbon economy through our target of providing £100bn of green financing by 2030, and by investing £175m over five years in innovative green companies.”
Source Insider Media Limited