Bank of Ireland has raised €750 million through its second green bond issuance of 2025, amid what the bank said was ‘strong investor demand’.
The ten-year bond was priced at a fixed coupon of 3.625%, equivalent to mid-swaps plus 1.05%.
Investor demand for the issuance was strong, with the offering drawing total orders exceeding €2.6 billion from more than 140 global investors. This marked the tightest spread since the bank’s first green bond issue in 2021, an indication of increased investor focus on sustainability.
Sustainable finance strategy
“We’re very pleased by the strong demand for our latest green bond, which underscores investor confidence in our sustainable finance strategy,” commented Mark Spain, chief financial officer at Bank of Ireland.
“Through green residential mortgages, sustainability-linked lending for SMEs and farmers, and funding for wind and solar energy projects, Bank of Ireland is helping customers make the transition to a low-carbon economy. This bond reinforces our commitment to climate action and keeps us firmly on track for our €30 billion sustainable finance ambition by 2030.”
Proceeds from the bond will be allocated to projects under Bank of Ireland’s green finance framework, which includes renewable energy projects, investment in energy-efficient buildings, and sustainability-linked loans.
Earlier this year, the bank financed its first solar power project in Ireland, as well as expanding the Enviroflex loan scheme – originally aimed at the dairy sector – to tillage farmers.
Ahead of schedule
Sustainability-linked lending by Bank of Ireland hit €16.5 billion as of the end of September 2025, exceeding the year-end target of €15 billion ahead of schedule. By 2030, the bank is confident that it can double this figure, to €30 billion.
The transaction was led by Davy, BofA Securities, ING, J.P. Morgan, Mizuho, and NatWest. Read more here.
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