TCV Green Bond

On 19 July 2016 TCV issued a $300 million 5-year Green Bond with a coupon of 1.75%. The issue has been certified as Climate Bonds under the Climate Bonds Standard by the Climate Bonds Standards Board of the Climate Bonds Initiative. TCV has retained NAB as its Sole Arranger, Green Bond Structuring Agent and Lead Manager for the transaction. Future issuances may be forthcoming dependent on market conditions, funding requirements and investor demand.

TCV developed a Green Bond Framework to guide its management and reporting of the TCV Green Bond. TCV also engaged DNV GL Business Assurance Australia (DNV GL) to independently verify that the TCV Green Bond and the underlying Asset Register meet the Climate Bond Initiative's certification requirements.

To view DNV GL's pre-issuance report, click here. To view the Climate Bond Initiative's certification, click here.

DNV GL have also issued a post issuance verification report in order to meet the Climate Bond Initiative's certification requirements. You can find this report here.

TCV has established an internal register of all TCV Green Bond eligible projects allocated against each TCV Green Bond. This register is updated on a quarterly basis and assigns each eligible project/asset with a unique identifier to track funds invested.

TCV also prepares an annual TCV Green Bond Report for public release. This report includes details including, but not limited to:

  • net proceeds raised from each TCV Green Bond
  • aggregate of TCV Green Bond proceeds allocated against each of the TCV Green Bond eligible categories identified within the TCV Green Bond Framework
  • a listing of each eligible project/asset included within the TCV Green Bond eligible portfolio
  • where available, qualitative and quantitative performance measures of the environmental objectives of the eligible projects/assets within the TCV Green Bond eligible portfolio
  • any unallocated TCV Green Bond proceeds
  • confirmation that the Use of Proceeds of TCV Green Bonds complies with the TCV Green Bond Framework.

Please note, the information disclosed for each eligible project/asset will be subject to relevant confidentiality agreements and available information.

TCV will retain DNV GL, or an appropriate assurance provider, to independently verify the annual TCV Green Bond Report on an annual basis. DNV GL will also provide assurance that each outstanding TCV Green Bond complies with the TCV Green Bond Framework and the requirements of the Climate Bond Standard. Following this annual verification update, DNV GL will issue an updated independent verification statement.

The independent verification statement, the annual TCV Green Bond Report and annual verification reporting are publicly available on the TCV website. You can find the 2017–18 TCV Annual Green Bond Report below.

2017–18 TCV Annual Green Bond Report

2016–17 TCV Annual Green Bond Report