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LONDON, Jan 27 (Reuters) - Britain said on Wednesday it had
picked HSBC and J.P. Morgan to advise on the
issuance of the country's first 'green' government bond due
later this year, after a tendering process.
Finance minister Rishi Sunak said on Tuesday that he
expected to be able to announce more about the timing of the
issuance when he holds his annual budget on March 3.
Britain has lagged behind other European countries in
issuing the debt, which is intended to finance green investment,
and attracts environmentally conscious investors.
Until recently the United Kingdom Debt Management Office
believed green bonds would be more expensive than normal debt,
as investors would demand a higher interest rate to compensate
for their lack of liquidity compared to standard gilts.
(Reporting by David Milliken; Editing by Alistair Smout)
