UBS Prices Inaugural Green Bonds

UBS Prices Inaugural Green Bonds
  • Bonds priced under new UBS Green Funding Framework
  • Eligible green asset pool of mortgage loans on Swiss Minergie-certified properties

UBS announces the pricing of two senior preferred unsecured Green bonds. This includes a 500 million euro-denominated five-year bond (ISIN: XS2358287238) and a 250 million Swiss franc-denominated seven-year bond (ISIN: CH1120085670).

The launch of these Green bonds follows the recent publication of UBS’s Net Zero statement, which sets tougher environmental financing standards and commits the firm to net zero greenhouse gas emissions across all its operations by 2050.

The bonds are being issued under the new UBS Green Funding Framework, which defines an eligible Green asset pool of mortgage loans on properties in Switzerland. The properties meet the Swiss Minergie standards for low-energy consumption buildings. UBS may look to expand the eligible asset pool over time as part of its ongoing aim to help clients meet their investment objectives through sustainable finance.

The UBS Green Funding Framework is aligned with the recently updated ICMA 2021 Green Bond Principles. The UBS Green Funding Framework has been assessed by Sustainalytics1 and has received certification from the Climate Bond Initiative. Going forward, UBS will publish an annual impact report2.

Suni Harford, Group Executive Board sponsor for Sustainability and Impact and President of Asset Management, said: “With the launch of these inaugural green bonds we are responding to the growing demand from investors and achieving a key milestone set out in our Net Zero And Beyond commitments. We look forward to providing further information on our detailed climate action plan later this year.”

Information on UBS’s Green Funding Framework is available at ubs.com/greenbonds.

Source: UBS

Related articles

  1. From The Markets

    RBC to Acquire HSBC Canada

    The deal combines HSBC Canada's strength in international products with RBC's breadth of capabilities.

  2. C.S. Venkatakrishnan said his prognosis is excellent and his condition is curable.

  3. The agencies found a shortcoming related to data quality and data management.

  4. Goldman Sachs Asset Management agreed to pay a $4m penalty.

  5. Credit Suisse’s strategy is good news for its 2,800 employees at Madison Avenue

    Investment bank has been impacted by industry-wide slowdown in capital markets and reduced sales & trading.