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Covid-19 Social Bonds

Covid-19 assigned social bonds: the Report

Huge numbers of social bonds have been issued with funds allocated to the Covid-19 response in a very short time. We asked how these instruments be used to finance other projects

A good rule of thumb when it comes to new asset classes is that typically, when Bank of America gets involved in something, it's a good time to start paying attention.

In May 2020, it became the first US bank to issue a $1 billion corporate social bond entirely dedicated to fighting the impact of the Covid-19 pandemic.

According to the International Capital Market Association (ICMA) social bond issuance for 2020 totalled $11.6 billion as of May 15, which is significantly higher than the $6.2 billion issued over the same period of 2019. The total for 2019 was just $16.7 billion.

In this three part report, we look at the rise of social bonds during the early stages of the pandemic and ask how the instruments can be used to finance other projects.

Enjoy the report. 

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