Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
Head of Fixed Income Strategy
Summary: We have put together a list of euro and dollar green bonds liquid enough to be traded in the secondary market, and offering a yield higher than 1%.
Following the article we published yesterday around green bonds, we have decided to compile a list with euro and dollar-denominated green notes available in the market. We have screened for notes liquid enough to be traded, and which could provide a yield higher than 100 basis points.
Many of the bonds below are not available to trade online on the Saxo Platform, but if you are interested in them, feel free to contact your sales representative. We will be happy to assist you with your request.
Please note that the yield is only indicative as it can fluctuate during the trading day. The lists below are not meant to be an investment recommendation.
Issuer Name | Coupon | YTW | Bloomberg composite Rating | Maturity | Maturity Type | Next Call Date | Currency | ISIN | Min Investment |
AIB Group | 2.88% | 2.94% | BB+ | 5/30/2031 | CALLABLE | 30-05-2026 | EUR | XS2230399441 | 100,000 |
Assicurazioni Generali | 2.43% | 2.26% | BBB- | 7/14/2031 | CALLABLE | 14-01-2031 | EUR | XS2201857534 | 100,000 |
Assicurazioni Generali | 2.12% | 2.00% | BBB- | 10/1/2030 | AT MATURITY | - | EUR | XS2056491587 | 100,000 |
BBVA | 6.00% | 5.90% | BB | PERP | PERP/CALL | 15-01-2026 | EUR | ES0813211028 | 200,000 |
Banco de Sabadell | 1.13% | 1.06% | BBB | 3/11/2027 | CALLABLE | 11-03-2026 | EUR | XS2228245838 | 100,000 |
CNP Assurances | 2.00% | 1.92% | BBB+ | 7/27/2050 | CALLABLE | 27-07-2030 | EUR | FR0013463775 | 100,000 |
Covivio | 1.13% | 1.41% | NR | 9/17/2031 | CALLABLE | 17-06-2031 | EUR | FR0013447232 | 100,000 |
EDP - Energias de Portugal | 1.70% | 2.49% | BB | 7/20/2080 | CALLABLE | 20-04-2025 | EUR | PTEDPLOM0017 | 100,000 |
EDP - Energias de Portugal | 4.50% | 2.04% | BB | 4/30/2079 | CALLABLE | 30-01-2024 | EUR | PTEDPKOM0034 | 100,000 |
EnBW | 1.88% | 1.84% | BBB- | 6/29/2080 | CALLABLE | 30-03-2026 | EUR | XS2196328608 | 100,000 |
EnBW | 1.63% | 1.88% | BBB- | 8/5/2079 | CALLABLE | 05-05-2027 | EUR | XS2035564629 | 100,000 |
EnBW | 1.13% | 1.54% | BBB- | 11/5/2079 | CALLABLE | 05-08-2024 | EUR | XS2035564975 | 100,000 |
Engie SA | 3.25% | 1.50% | BBB | PERP | PERP/CALL | 28-11-2024 | EUR | FR0013398229 | 100,000 |
Engie SA | 1.38% | 1.37% | BBB | PERP | PERP/CALL | 16-01-2023 | EUR | FR0013310505 | 100,000 |
Muenchener RE | 1.25% | 1.44% | A | 5/26/2041 | CALLABLE | 26-11-2030 | EUR | XS2221845683 | 100,000 |
Orsted A/S | 2.25% | 1.34% | BB+ | 11/24/3017 | CALLABLE | 24-08-2024 | EUR | XS1720192696 | 100,000 |
Orsted A/S | 1.75% | 1.67% | BB+ | 12/9/3019 | CALLABLE | 09-09-2027 | EUR | XS2010036874 | 100,000 |
Telia Co AB | 1.38% | 1.67% | BBB- | 5/11/2081 | CALLABLE | 11-02-2026 | EUR | XS2082429890 | 100,000 |
Issuer Name | Coupon | YTW | Bloomberg Composite Rating | Maturity | Maturity Type | Next Call date | Currency | ISIN | Min Investment |
CIFI Holdings Group | 5.95% | 5.33% | BB- | 10/20/2025 | CALLABLE | 20-07-2023 | USD | XS2205316941 | 200,000 |
Equinix Inc | 1.00% | 1.08% | BBB- | 9/15/2025 | CALLABLE | 15-08-2025 | USD | US29444UBK16 | 50,000 |
Equinix Inc | 1.55% | 1.57% | BBB- | 3/15/2028 | CALLABLE | 15-01-2028 | USD | US29444UBL98 | 50,000 |
Equinix Inc | 2.95% | 2.97% | BBB- | 9/15/2051 | CALLABLE | 15-03-2051 | USD | US29444UBM71 | 50,000 |
ING Groep NV | 1.40% | 1.12% | A- | 7/1/2026 | CALLABLE | 01-07-2025 | USD | US456837AU72 | 200,000 |
ING Groep NV | 1.40% | 1.09% | A- | 7/1/2026 | CALLABLE | 01-07-2025 | USD | USN4580HAC18 | 200,000 |
ING Groep NV | 4.63% | 1.14% | A- | 1/6/2026 | AT MATURITY | - | USD | US45685NAA46 | 200,000 |
ING Groep NV | 4.63% | 1.12% | A- | 1/6/2026 | AT MATURITY | - | USD | USN4580HAA51 | 200,000 |
Kimco Realty Corp | 2.70% | 2.41% | BBB+ | 10/1/2030 | CALLABLE | 01-07-2030 | USD | US49446RAW97 | 50,000 |
LG Chem Ltd | 3.63% | 2.14% | BBB+ | 4/15/2029 | AT MATURITY | - | USD | USY52758AD47 | 200,000 |
LG Chem Ltd | 3.25% | 1.26% | BBB+ | 10/15/2024 | AT MATURITY | - | USD | USY52758AC63 | 200,000 |
LG Chem Ltd | 3.63% | 2.11% | BBB+ | 4/15/2029 | AT MATURITY | - | USD | US501955AB41 | 200,000 |
LG Chem Ltd | 3.25% | 1.27% | BBB+ | 10/15/2024 | AT MATURITY | - | USD | US501955AA67 | 200,000 |
MTR Corp Ltd | 1.63% | 1.70% | AA | 8/19/2030 | AT MATURITY | - | USD | XS2213668085 | 200,000 |
Natwest Group PLC | 2.36% | 1.30% | BBB+ | 5/22/2024 | CALLABLE | 22-05-2023 | USD | US780097BN03 | 200,000 |
PepsiCo Inc | 2.88% | 2.49% | A+ | 10/15/2049 | CALLABLE | 15-04-2049 | USD | US713448EP96 | 50,000 |
REC Ltd | 3.88% | 3.81% | BBB- | 7/7/2027 | AT MATURITY | - | USD | XS1641477119 | 200,000 |
UDR Inc | 3.10% | 2.28% | BBB+ | 11/1/2034 | CALLABLE | 01-08-2034 | USD | US90265EAS90 | 50,000 |
Verizon Communications Inc | 1.50% | 1.47% | BBB+ | 9/18/2030 | CALLABLE | 18-06-2030 | USD | US92343VFL36 | 50,000 |
Verizon Communications Inc | 3.88% | 1.42% | BBB+ | 2/8/2029 | CALLABLE | 08-11-2028 | USD | US92343VES97 | 50,000 |
Welltower Inc | 2.70% | 1.62% | BBB+ | 2/15/2027 | CALLABLE | 15-12-2026 | USD | US95040QAK04 | 50,000 |
Xylem Inc/NY | 2.25% | 1.63% | BBB | 1/30/2031 | CALLABLE | 30-10-2030 | USD | US98419MAL46 | 50,000 |
Xylem Inc/NY | 1.95% | 1.31% | BBB | 1/30/2028 | CALLABLE | 30-11-2027 | USD | US98419MAM29 | 50,000 |