HSBC won three lead manager awards this year, with Sustainable Debt Awards judges describing the lender as a "strong contributor to the green bond market".
Praised as a "global market leader in financial institutions green bonds" by judges, HSBC was recognised as Lead manager of the year, green bonds – financial institutions for its work helping a range of financial institutions in accessing the market and updating their green financing frameworks.
It highlighted several efforts in diversifying the market with new issuers and geographies, such as the Kuwait's first green bond for National Bank of Kuwait, PKO Bank Polski's EU Taxonomy-aligned inaugural green bond and Eurobank's first green bond from a framework solely structured by HSBC.
HSBC so worked with existing repeat issuers on a range of issuances, including a blue bond for China Construction Bank, another first for Kuwait with a green sukuk for Warba Bank and new bonds from experienced issuers including Swedbank, SEB, Handelsbanken, Commerzbank, ABN Amro and Rabobank. It also led a new green bond for Austrian bank BAWAG out its renewed green finance framework, which has brought in line with the EU Taxonomy and the latest International Capitalb Markets Association standards.
For the Lead manager of the year, sustainability bonds – corporate award, awards judges were impressed by HSBC's work with new issuers in emerging markets, including a new wave of Turkish issuers like Turk Telekomunikayson, which came to market with an $500 million ESG-labelled Eurobond and a debut $350 million sustainable bond for Rönesans, the first from a Turkish issuer.
Elsewhere, the bank used its 'ESG syndicate' role to help utilities companies in Europe, Asia and the Middle East to gather feedback and market intelligence to maximise investor attention and support ESG integration into credit fundamentals for the sector. It was a joint active bookrunner and ESG structuring agent for Welsh Water's £600 million ($764 million) sustainable bond. HSBC also acted as global coordinator and billing & delivery bank in for a $1.5 billion dual-tranche sustainable transaction for Comisión Federal de Electricidad.
Finally, as Lead manager of the Year, sustainability bonds – local authority/municipality for the second year running, HSBC helped to facilitate sustainable bonds for local authorities that exhibited high impact based on the issuers' environmental and social backdrop.
It also remained a leader in Spain's municipal sustainable bond markets bringing issuance for the Basque Country, Andalucia, Madrid and Galicia to market in 2024.
Other global examples last year included Belgium's Flemish Community and The Netherlands' BNG Bank in Europe and Hainan Province in Asia.
