{"id":917,"date":"2020-07-02T14:50:13","date_gmt":"2020-07-02T14:50:13","guid":{"rendered":"https:\/\/www.esgtoday.com\/?p=917"},"modified":"2020-07-02T14:50:28","modified_gmt":"2020-07-02T14:50:28","slug":"national-grids-first-us-green-bond-issue-4x-oversubscribed","status":"publish","type":"post","link":"https:\/\/www.esgtoday.com\/national-grids-first-us-green-bond-issue-4x-oversubscribed\/","title":{"rendered":"National Grid\u2019s First US Green Bond Issue 4x Oversubscribed"},"content":{"rendered":"\n<p>UK-based utility National Grid announced today the successful launch of its first green bond in the U.S., with<strong> over 100 institutional investors placing orders, <\/strong>including pension funds and major banks. The bond was issued through Niagara Mohawk Power Corporation, one of National Grid\u2019s U.S. operating companies.<\/p>\n\n\n\n<p>Green bonds are securities issued specifically for financing environmental and climate-related projects. The bonds may be issued by government-sanctioned organizations, and typically enjoy tax incentives. National Grid\u2019s US green bond issue follows a similar bond it issued in the UK earlier this year, which was also part of the National Grid Green Financing Framework.<\/p>\n\n\n\n<p>The issuance was part of a two-bond offering, including the 10-year green bond, with a value of $600m, alongside a $500m 30-year non-green bond. According to National Grid, the response by investors was very strong, with the order book for both bonds nearly <strong>four times oversubscribed, boosted by the green bond in particular<\/strong>. Overall, approximately 110 investors placed orders for the green bond, including pension funds and major banks, mainly from the US but also from Europe and Japan. The bond was issued with an interest rate of 1.96%, the lowest ever achieved for a 10-year bond by any of National Grid\u2019s U.S. operating companies.<\/p>\n\n\n\n<p>National Grid stated that the green bond issue is in line with the company\u2019s commitment to play a key role in the transition towards a low-carbon economy, with the funds being used to support investments in the decarbonisation of its electricity networks. Specifically, the green bond proceeds will be used to fund a range of clean energy projects across five categories, including:<\/p>\n\n\n\n<ul><li>Renewable energy<\/li><li>Energy efficiency<\/li><li>Clean transportation<\/li><li>Pollution prevention<\/li><li>Environmentally sustainable management of living natural resources and land use<\/li><\/ul>\n\n\n\n<p>Part of the proceeds in the \u2018Renewable energy\u2019 category will fund maintaining, enhancing and increasing the renewable energy capacity of National Grid\u2019s infrastructure, in order to raise the share of low-carbon electricity that flows through the company\u2019s networks.<\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-917\" data-postid=\"917\" class=\"themify_builder_content themify_builder_content-917 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->\n<span class=\"et_bloom_bottom_trigger\"><\/span>","protected":false},"excerpt":{"rendered":"<p>UK-based utility National Grid announced today the successful launch of its first green bond in the U.S., with over 100 institutional investors placing orders, including pension funds and major banks. The bond was issued through Niagara Mohawk Power Corporation, one of National Grid\u2019s U.S. operating companies. Green bonds are securities issued specifically for financing environmental [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[6,30],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>National Grid\u2019s First US Green Bond Issue 4x Oversubscribed - ESG Today<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.esgtoday.com\/national-grids-first-us-green-bond-issue-4x-oversubscribed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National Grid\u2019s First US Green Bond Issue 4x Oversubscribed - ESG Today\" \/>\n<meta property=\"og:description\" content=\"UK-based utility National Grid announced today the successful launch of its first green bond in the U.S., with over 100 institutional investors placing orders, including pension funds and major banks. 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Green bonds are securities issued specifically for financing environmental [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.esgtoday.com\/national-grids-first-us-green-bond-issue-4x-oversubscribed\/\" \/>\n<meta property=\"og:site_name\" content=\"ESG Today\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ESGToday\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-02T14:50:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-02T14:50:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.esgtoday.com\/wp-content\/uploads\/2020\/07\/National-grid.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1088\" \/>\n\t<meta property=\"og:image:height\" content=\"726\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mark Segal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@EsgToday\" \/>\n<meta name=\"twitter:site\" content=\"@EsgToday\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark Segal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.esgtoday.com\/national-grids-first-us-green-bond-issue-4x-oversubscribed\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.esgtoday.com\/national-grids-first-us-green-bond-issue-4x-oversubscribed\/\"},\"author\":{\"name\":\"Mark Segal\",\"@id\":\"https:\/\/www.esgtoday.com\/#\/schema\/person\/cca7a2b05e3a06d096e5740fb1433a01\"},\"headline\":\"National Grid\u2019s First US Green Bond Issue 4x Oversubscribed\",\"datePublished\":\"2020-07-02T14:50:13+00:00\",\"dateModified\":\"2020-07-02T14:50:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.esgtoday.com\/national-grids-first-us-green-bond-issue-4x-oversubscribed\/\"},\"wordCount\":339,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.esgtoday.com\/#organization\"},\"articleSection\":[\"Companies\",\"Sustainable Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.esgtoday.com\/national-grids-first-us-green-bond-issue-4x-oversubscribed\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.esgtoday.com\/national-grids-first-us-green-bond-issue-4x-oversubscribed\/\",\"url\":\"https:\/\/www.esgtoday.com\/national-grids-first-us-green-bond-issue-4x-oversubscribed\/\",\"name\":\"National Grid\u2019s First US Green Bond Issue 4x Oversubscribed - 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