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On 13 July 2016, the Luxembourg Stock Exchange (LuxSE) listed and admitted to trading on its “Bourse de Luxembourg” market, a social (or “sustainable”) bond issued by BNG Bank. The Dutch bank issued an 8-year €1 billion social bond (ISIN XS1445725218) that will be used to finance social housing projects in the Netherlands.
A social bond is a bond whose proceeds are used to fund projects addressing or mitigating specific social issues or seeking to achieve positive social outcomes, especially, but not exclusively, for target populations. Like green bonds, social bonds are benefiting from a newly established taxonomy and disclosure best practice such as those released by the ICMA’s Green Bond Principles in June this year. BNG Bank is the first issuer to issue a social...
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