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NBN Co has raised EUR 750 million (A$1.2 billion equivalent) from its second Euro Sustainability Bond issuance in the European debt capital markets.
The 7.5-year bond was priced on 20 May 2026 and settled on 29 May 2026. Net proceeds from the transaction will be allocated to investments in the deployment of energy-efficient fibre across the nbn network and the nbn Fixed Wireless network, which helps enable access to digital services and support digital skills and connectivity in regional and remote areas.
The transaction order book was oversubscribed despite what NBN Co described as volatile market conditions driven by geopolitical uncertainty and the ongoing situation in the Middle East.
Growing sustainable financing portfolio
The issuance brings NBN Co’s total outstanding green or sustainable financing to approximately A$10.7 billion equivalent. The company is the largest Australian corporate issuer in green and sustainability format across domestic and international debt capital markets.
This latest bond is the 11th transaction in green or sustainable format by NBN Co since it launched its first Green Bond in 2022.
In May 2025, the company’s first Sustainability Bond issuance raised EUR 700 million in the European debt capital markets. In March 2026, NBN Co’s first domestic Sustainability Bond issuance raised A$850 million.
Proceeds directed at fibre and fixed wireless
Fiona Trigona, Executive General Manager and Group Treasurer at NBN Co, outlined where the funds will be directed.
“NBN Co has a commitment to digital inclusion, particularly for regional and remote areas,” Trigona explained. “Our Sustainability Bond raisings enable us to fund investments in nbn network energy-efficient fibre, which helps deliver a more resilient network, and also in the fixed wireless network which plays a role in helping to enable connectivity in regional areas.”
Trigona pointed to the level of investor interest as a positive signal given current market conditions.
“We were pleased by investor interest in our Sustainability Bonds issuance in what remains a volatile market due to uncertainty resulting from geopolitical challenges and the ongoing situation in the Middle East,” she added.
“The outcome of our latest issuance in the European debt capital markets illustrates investor appetite for Australia and for NBN Co’s credit.”
Bond issuance history
NBN Co has built a track record in sustainable debt markets over the past four years. Since its first Green Bond in 2022, the company has returned to the market regularly, issuing across both domestic and international formats.
The progression from green bonds to sustainability bonds has broadened the scope of eligible investments, allowing NBN Co to fund projects that support both environmental and social objectives, including extending connectivity to underserved communities through its fixed wireless infrastructure.
Last Updated on June 1, 2026 by Nick Ross
