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May 24, 2016

By Sahil Memon

$21.2bn: highest YTD total on record for green bonds

Global green bond issuance stands at $21.7bn so far this year, up 78% from $12.1bn issued in same period of 2016 and the highest YTD total on record. Green bond volume already amounts to 59% of the full year record set in 2015 ($36.2bn), and is the third highest annual total on record ($32.6bn in 2014)

With 39 deals signed so far this year, however, activity is down 11% compared to the same 2015 period (44 deals), although this drop has nearly doubled the average deal size to $543m from $274m last YTD

FIG issuance surpasses full year 2015

FIG green bond issuance totals $9.3bn (eight deals), already up 3% compared to full year 2015 ($8.6bn), and marking the highest annual total on record. Activity from corporate issuers stands at 16 deal ($5.3bn), up from eight deal ($2.9bn) issued in same period last year and the highest YTD activity on record

With $8.3bn (via seven deals) so far this year, China tops the nationality ranking for the first time, with a 39% market share, followed by the US ($3.0bn via four deals) and Germany ($1.8bn via two deals)

Apple issues debut green bond

On February 16, 2016, Apple, issued its debut green bond. The 9-tranche deal, valued at $12bn, had proceeds of $1.7bn used to fund one or more eligible green projects, including solar and wind projects

The latest green bonds from the corporate sector were issued on May 20, by Swedish companies Vasakronan and Wallenstam, valued at $12m and $48m respectively. FIG issuer Axis Bank priced a $500m debut green bond on May 23

BAML Top bookrunner for global green bonds

BAML leads the global green bond bookrunner volume ranking in 2016 YTD, with a 13.5% market share, followed by Guotai Junan Securities Co and Haitong Securities, with 7.8% and 7.2% shares, respectively