Britain receives over 48 billion pounds demand for second green gilt
October 21, 2021, 7:00 am

Britain receives over 48 billion pounds demand for second green gilt

UK-Westminster-London/Pixabay

The Arab News reported according to Reuters, Britain received over 48 billion pounds ($66 billion) of demand within half an hour of opening order books for its second green government bond, a month after its first green gilt drew a record 100 billion pounds in demand from investors.

Bookrunners said Britain expected to sell 6 billion pounds of the new July 2053 gilt, compared with 10 billion pounds of the July 2033 green gilt which last month became the largest ever sovereign issue of a green bond.

Proceeds from the sale will be ring-fenced for projects such as offshore wind farms and zero-emission buses.

The sale will also help Britain's government polish its green credentials as it prepares to host the United Nations COP26 climate conference in Glasgow later this month.

The new July 2053 gilt will pay a 1.5 percent coupon and is being offered with a yield that is 0.5 to 1 basis points below that of the benchmark July 2052 conventional gilt, bookrunners on the transaction said.

Order books are due to close at 0830 GMT.

Britain has lagged behind other European countries such as Germany, Italy and Spain in issuing green bonds, partly because of concern that investors would want higher interest rates to compensate for a relative lack of liquidity.

However, the appetite for green debt has surged over the past couple of years - partly because of its appeal to funds dedicated to buying green assets, but also due to concern that regulators and other stakeholders will in the future look more closely at the overall environmental impact of portfolios.

Source: arabnews

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”