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Munich Re issues €1.25bn subordinated green bond

Written by Adam Cadle
24/09/2020

Munich Re has issued a subordinated green bond, the first in the reinsurer's history, with the volume issued amounting to €1.25bn.

Munich Re will use the raised capital to finance or refinance sustainable projects in accordance with the company’s Green Bond Framework. Projects include investments of equity and debt in renewable energy, energy efficiency, clean transportation, green buildings, sustainable water and wastewater management, the eco-efficient and/or circular economy, and the environmentally sustainable management of living natural resources and land.

Munich Re’s Green Bond Framework is aligned with the 2018 Green Bond Principles set by the International Capital Market Association (ICMA).

The bond has a coupon of 1.25% and will mature in 2041.

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