Barclays raises £400 million through green bond issuance

FILE PHOTO: A worker cleans a Barclays logo outside a bank branch in the financial district of London, Britain July 8, 2019. REUTERS/Simon Dawson

LONDON (Reuters) - Barclays Bank has raised 400 million pounds ($521 million)through a green bond issuance, which will be used to finance or re-finance mortgages on energy efficient residential properties, the bank said on Wednesday.

The green bond, which matures in 2026, attracted strong institutional investor interest and was over-subscribed five times, the bank said.

Green bonds are used to finance clean energy and environmental projects such as wind farms and low-carbon transport.

The green bond is Barclays’ second. The first was issued in 2017 and funded domestic residential mortgage assets.

Reporting by Nina Chestney; Editing by Kim Coghill