PTSB raises €500m in green bonds to help fund cheaper loans for homes with high energy ratings

PTSB raised €500 million on Wednesday from the sale of green bonds, joining its largest rivals in tapping this fast-growing part of global debt markets and boosting more climate-friendly lending.

The bank issued about €700 million of green mortgage loans last year, accounting for almost a third of its new home loans. Homes with a building energy rating of B3 or higher are eligible for green mortgages among Irish lenders and are typically priced more cheaply than standard home loans. AIB was the first Irish retail bank to venture into the green bonds market, in late 2020, while Bank of Ireland moved into it in March 2021. PTSB has sold its green bonds through a holding company at the top of its corporate tree.

The increase came even as most global central banks raised interest rates, weighing on the wider international debt markets.

Source: Energy Industry News (energyindustrynews.net)

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