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Swedish bank SEB tops annual Green Bond Underwriters League table

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Skandinaviska Enskilda Banken (SEB) achieved top spot in the 2014 Green Bonds Underwriters League Table, according to figures released today by the Climate Bonds Initiative. 

The news follows the recent announcement that USD36.6bn green bonds were issued in 2014 making it the biggest year ever for green bonds.
 
SEB was involved in USD3.8bn of green bond deals. The race was tight for second and third place with less than USD40m between BAML in second with USD3.68bn and Credit Agricole in a close third with USD3.65bn.  
 
Despite leading the Q4 2014 league table, Morgan Stanley came in fourth in the overall year standings with USD2.8bn. JPM, the runner-up for Q4, had a strong second half of the year, underwriting green deals for several US municipalities and supranational issuers, but they only claimed 5th place for the year overall, with final total of USD2.4bn.
 
Climate Bonds Initiative CEO, Sean Kidney said: ‘Without investment banks, there would be no green bonds market: they are important in seeking out potential issuers and bringing the bonds to market. After a great year in 2014 we figure the bankers will soon be setting their performance targets for 2015. We believe we can reach USD100bn of green bonds issuance globally in 2015, and doing so would take a powerful message about investors and issuers driving change to governments at the UN Climate Conference in Paris in December.’

Morgan Stanley (MS) tops the Q4 2014 underwriter league table, making USD1.1bn of green bonds deals during the quarter, with JP Morgan following closely in second place with USD887m of green bond deals. Both were carried over the line by big municipal green bonds, which pushed them ahead of staunch rivals Bank of America Merrill Lynch (BAML) and Citi, who come in third (USD763m) and fourth (USD756m) respectively.

Last quarter’s (Q3) leaders, Credit Agricole CIB (CA-CIB) and SEB, slipped down to fifth and seventh place for Q4, with HSBC in sixth, who climbed up the rankings by being involved in two of the five largest deals of Q4.

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