- RMB in Namibia and RMB’s SA debt capital markets and sustainable finance teams successfully arranged FNB Namibia’s first green bond issuance in the local DCM.
- This marks the second issuance of green bonds in Namibia to date, with FNB Namibia raising N$ 353 million across three- and five-year notes.
The proceeds of the green bonds will be allocated to eligible green loans applied towards Namibian green buildings and renewable energy generation projects. Sustainability is key to FNB Namibia’s vision of a globally competitive Namibia, and these green bonds mark a major milestone for the country and the bank. Through this, FNB Namibia can ensure appropriate financial resource allocation to support the greening of the Namibian economy, as well as drive stronger issuance volumes while enabling the growth of the local green bond market.
FNB Namibia’s inaugural green bond auction achieved a diverse orderbook, supported by over 13 local investors. The auction was well received, garnering over N$ 2 billion in bids, resulting in the auction being 5.82 times subscribed.
Author: Bryan Groenendaal