Poland makes Green history

摘要

Polano printed the first Green bond from a sovereign last Monday though the structure didn't appear to offer any discernible pricing benefit. In contrast to the first significant Green bond from a CEEMEA borrower - Turkish development bank TSKB, which priced through fair value in May - Poland's €750m five-year issue came at a premium over its curve. That was largely due to the time of year, as Poland decided to move straight after finishing the roadshow, even though the official announcement gave the sovereign wiggle room until the end of the first quarter.