Australia’s NBN Co has successfully raised EUR 1.35 billion (A$2.1 billion) from its debut European Green Bonds issuance in debt capital markets.
The EUR benchmark Green Bonds were priced on 6 March 2023, with EUR 750 million (A$1.2 billion) of six-year bonds and EUR 600 million (A$947 million) of 10-year bonds. The combined proceeds will be fully allocated to eligible green projects undertaken as part of the company’s commitment to energy efficiency in line with its Sustainability Bond Framework1.
The transaction makes NBN Co the first Australian Government Business Enterprise to issue Green Bonds in Europe.
Fiona Trigona, Executive General Manager Group Treasurer, NBN Co said:
“We are delighted to see nbn’s sustainability credentials tested and validated on the world stage from the global investor base through our European Green Bond issuance. In December 2022, the Australian Government issued a revised Statement of Expectations for nbn, which includes an expectation that we deliver greenhouse gas emissions reductions consistent with meeting or exceeding the Government’s commitment to net zero emissions by 2050.
“We aim to achieve this through our near-term and long-term science-based emissions reduction targets, which are in line with the latest climate science. Our network investment plan is taking energy-efficient fibre deeper into communities to meet the growing digital demands of Australia’s homes and businesses. Fibre is inherently more capable of delivering faster upload and download speeds and is generally more reliable than copper connections.
“Embedding sustainability across the company’s activities supports our purpose to lift the digital capability of Australia, enabling long-term social, economic and environmental benefits for our people, customers, communities, partners and country.”
