Search Climate Insights Directory

Ascendas Real Estate Investment Trust issued a SGD100 million (USD103 million) senior unsecured green bond on August 26, 2020, with a 10-year tenor maturing in 2030. The bond was oversubscribed by 6.5 times and will be used to refinance 17 properties holding at least a BCA gold certification. The issuance was assured by EY and underwritten by OCBC Bank.

Freddie Mac issued a USD 435 million green CMBS on June 28, 2019, to support the Multifamily Green Advantage suite of loan offerings. The proceeds target building improvements such as LED lighting, insulation upgrades, and water-efficient fixtures. Loans from 2019 onwards must meet a 30% savings reduction threshold and a 15% energy efficiency requirement. Reporting on the proceeds is conducted monthly via the master servicer and trustee, with annual public performance reports provided by Freddie Mac.

The Los Angeles County Metropolitan Transportation Authority (LACMTA) issued $556,850,000 in Series 2017 bonds. The Series 2017-A Green Bonds ($471,395,000) are designated for rail transit improvements, including the Southwestern Yard maintenance facility, the Universal City Station pedestrian bridge, and the procurement of light and heavy rail vehicles. The Series 2017-B Bonds ($85,455,000) are used to refund Series 2011-B bonds. Both series are limited obligations secured by a first lien on Pledged Revenues, primarily derived from the Proposition A Sales Tax (a 0.5% retail transactions and use tax). The Series 2017-A bonds are 'Climate Bond Certified' based on the Climate Bonds Standard. The issuance is supported by a Reserve Fund, which as of the issuance date was expected to be approximately $160 million, consisting of a $85.5 million AGM Reserve Policy and $74.5 million in cash and investments.