Australian fintech firm Brighte Green Trust issued the country’s first green asset backed security (ABS) with an A$190 ($147 million) bond issue.
Securitised by Australian solar and battery installation receivables the bond will finance solar and energy related assets, which are expected to save more than 360,000 tonnes of greenhouse gas emissions every year, the equivalent to over 65,000 homes.
Certified green by the Climate Bonds Initiative (CBI), the bond was structured into seven tranches and as an inaugural issuer, having only been incorporated in 2015, Moody’s applied a ratings cap of Aa2 (sf) to the senior notes.
