Wednesday 30 September 2020

The Banker has recognised BNP Paribas as Investment Bank of the Year for Social Bonds for playing a leading role in Covid-19 related issuance throughout the crisis, building on its existing track record.


The Banker has recognised BNP Paribas as Investment Bank of the Year for Social Bonds for playing a leading role in Covid-19 related issuance throughout the crisis, helping clients shore up healthcare systems and economies in the wake of the global pandemic.



The award builds on the bank's existing track record in the social bond market, and follows the Banker's recognition of BNP Paribas as team of the month in June for leading the way in Covid-19 response bonds.

"I am delighted and humbled BNP Paribas has been recognised by the Banker for this award," comments Delphine Queniart, Global Head of Sustainable Finance and Solutions, Global Markets "Social bonds have come into their element this year, mobilising financial markets in support of the wider society and generating positive social outcomes. It has been a privilege to support our clients during these challenging times and to have contributed to the response to the crisis."

As well as this, BNP Paribas also won Investment Bank of the Year for Sustainable FIG Financing, further demonstrating the strength of BNP Paribas' Sustainable business. 

What are social bonds and how have they helped tackle Covid-19?

Social bonds are a specific type of Environmental, Social and Governance (ESG) financing, mostly issued by Sovereigns, Supranationals and Agencies (SSA), where proceeds are earmarked for predefined purposes focused on 'social' outcomes. Government agencies and supranational organisations have taken the lead this year by adopting and embracing social bond frameworks so they can raise capital for specific Covid-19-related relief efforts, such as healthcare and economic support.

Banks have played a pivotal role in Covid-19 related issuance, responding to the needs of clients in adapting existing social bond frameworks to match issuers' funding needs with the needs of investors. Throughout the crisis, BNP Paribas led or supported 24 transactions, totalling $13.6 billion and representing 7.67% market share of Covid-19 related bonds. [1]

Are social bonds here to stay?

The crisis has acted as a catalyst to develop the 'S' in ESG investments, and has helped scale up sustainable finance as a response to society's needs at large.

Jamie Stirling, Global Head SSA Debt Capital Markets (DCM), BNP Paribas Global Markets, commented, "Distressed markets are the perfect test case for new products and social bonds passed with flying colours. There are now plenty of benchmarks and there's every reason to expect the social bond market to continue to grow."

BNP Paribas was also recognised in the following categories, further demonstrating the bank's strength and leadership in supporting clients through an unprecedented year:

  • Investment Bank of the Year for Sustainability-Linked Loans
  • Investment Bank of the Year for IPOs


Read more about the Banker Award wins here:

 


[1] Source: Dealogic – Covid-19 related bonds (Corp/FIG/SSA) as of 17thSep 2020, League table, self-led deals excluded.


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