This year Euromoney is also recognising a select group of banks in our new Excellence in Leadership awards. Our editorial team has been hugely impressed by the swift reaction of many banks across the world in responding to the Covid-19 crisis. The Excellence in Leadership awards recognise these efforts.

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Deutsche Bank – together with the European Investment Bank (“EIB”) and Dutch bank, Rabobank – has helped finance the largest solar energy plant in Andalusia, in the south of Spain. The bank acted as sole structurer and contributed 25 percent of the 90 million euro aggregate facility. Deutsche Bank also arranged interest rate hedging for the entire transaction.

The Cabrera solar project includes the construction and operation of four solar plants. Each plant will have capacity to generate 50 megawatts (MW) of electricity and will be located in the Seville municipality of Alcalá de Guadaira. The plants will generate enough clean energy to supply 105,000 homes a year, at the same time helping to significantly reduce annual CO2 emissions.

Despite the challenges related to COVID-19, the project is already 85 percent complete. Deutsche Bank’s head of Financing Coverage in Spain Jesús Medina said: “By financing projects like this we not only contribute to achieving...

Deutsche Bank has helped three clients come to market with green bonds this week, despite a forty percent decrease in green issuance this year. The deals, a 600 million euro bond for Assicurazioni Generali, a 500 million euro bond for NEPI Rockcastle and a 500 million dollar bond for Kimco Realty, represent a success for the bank’s debt capital markets (DCM) business across both Europe and the Americas.

Green bond issuance has been negatively impacted by the economic disruption caused by the coronavirus pandemic, with new issues amounting to just under 70 billion US dollars in the first six months of this year compared with 125 billion US dollars in the same period last year. During the pandemic, issuers have been less likely to want to segregate funding to green assets so they can retain a pool of liquidity in case required for the crisis. However, the market has seen a remarkable increase in social and sustainability bonds, particularly from sovereigns looking to...

The Covid-19 pandemic still has a foothold in countries around the world. In its aftermath, the global economy will come out of lockdown into a financial crisis. As the focus turns to rebuilding, what place will sustainable finance hold in the economy?

“People talk about the green revolution, and I definitely think it’s coming,” says Henrik Johnsson, Global Co-Head of Capital Markets. “Has it only been paused by Covid-19, or will the pandemic accelerate it? I’m not sure – but I am sure that it will not reverse its trajectory.”

Johnsson, who has worked in sustainable finance for the past five years, believes this revolution may be costly, but that the costs of transitioning to a green economy are balanced by its long term goals: increased prosperity, longer life spans by reducing pollution, better impacts on the environment and social progress.

“In 2019 we saw companies and issuers of capital waking up to the fact that their social and environmental...

Hong Kong, July 8—BNY Mellon and Deutsche Bank have jointly developed a new API-enabled foreign-exchange (FX) solution that can dramatically improve confirmation times for restricted emerging-market currency trades.

The digital solution, initially being applied to custody FX transactions in Korean Won, aims to reduce the pre-trade lifecycle to seconds from hours, minimizing the operational burden and manual intervention that can be prevalent in emerging-market custody FX.

The solution is already live in Korea, with the Indonesian Rupiah and the Indian Rupee targeted next. Subsequently, it will be progressively rolled out to a broad range of restricted currencies, which are linked to investors’ underlying equity or fixed-income transactions.

Leveraging existing bots between the two banks for instantaneous communication to help eliminate market frictions, the solution can also bring trade remediation closer to the time of execution. The resulting benefits...

The Covid-19 pandemic still has a foothold in countries around the world. In its aftermath, the global economy will come out of lockdown into a financial crisis. As the focus turns to rebuilding, what place will sustainable finance hold in the economy?

“People talk about the green revolution, and I definitely think it’s coming,” says Henrik Johnsson, Global Co-Head of Capital Markets. “Has it only been paused by Covid-19, or will the pandemic accelerate it? I’m not sure – but I am sure that it will not reverse its trajectory.”

Johnsson, who has worked in sustainable finance for the past five years, believes this revolution may be costly, but that the costs of transitioning to a green economy are balanced by its long term goals: increased prosperity, longer life spans by reducing pollution, better impacts on the environment and social progress.

“In 2019 we saw companies and issuers of capital waking up to the fact that their social and environmental...

Hong Kong, July 8—BNY Mellon and Deutsche Bank have jointly developed a new API-enabled foreign-exchange (FX) solution that can dramatically improve confirmation times for restricted emerging-market currency trades.

The digital solution, initially being applied to custody FX transactions in Korean Won, aims to reduce the pre-trade lifecycle to seconds from hours, minimizing the operational burden and manual intervention that can be prevalent in emerging-market custody FX.

The solution is already live in Korea, with the Indonesian Rupiah and the Indian Rupee targeted next. Subsequently, it will be progressively rolled out to a broad range of restricted currencies, which are linked to investors’ underlying equity or fixed-income transactions.

Leveraging existing bots between the two banks for instantaneous communication to help eliminate market frictions, the solution can also bring trade remediation closer to the time of execution. The resulting benefits...