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Government-owned broadband network operator NBN Co has raised €750 million ($1.2 billion) from its second Euro Sustainability Bond issuance, bringing the company's total outstanding green or sustainable financing to a $10.7 billion equivalent.
The 7.5-year bond was priced on 20 May 2026 and settled on 29 May 2026, with NBN Co reporting the order book was significantly oversubscribed despite volatile geopolitical conditions in global capital markets.
Net proceeds from the transaction will be allocated to investments into the deployment of NBN network energy-efficient fibre and the NBN Fixed Wireless network which help enable access to digital services and helps advance digital skills and abilities in regional and remote areas.
The latest transaction marks NBN Co's 11th in green or sustainable format since 2022 and follows the company's €700 million inaugural Euro Sustainability Bond issued in May 2025 and an $850 million domestic Sustainability Bond completed in March this year.
The domestic issuance attracted a final order book exceeding $2.25 billion.
“NBN Co has a strong commitment to digital inclusion, particularly for regional and remote areas," says Fiona Trigona, executive general manager and group treasurer at NBN Co.
"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 crucial role in helping to enable connectivity in regional areas.
“We were very 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.
“The success of our latest issuance in the European debt capital markets illustrates strong investor appetite for Australia and for NBN Co’s credit.”
The rapid growth in NBN Co's sustainable financing book - from over $8.6 billion reported at the time of its inaugural Euro issuance in May 2025 to $10.7 billion - reflects an accelerating cadence of issuance across both domestic and international debt markets.
NBN Co's half-year results for FY26, released earlier this year, showed total revenue of $2.9 billion, up 2 per cent, with EBITDA of $2.2 billion, up 5 per cent.
The company guided to full-year revenue of $5.8 billion to $6 billion and EBITDA of $4.2 billion to $4.4 billion.
Net debt stood at $27.5 billion at the half-year mark.
NBN Co says the latest euro bond iissuance reinforces its position as one of Australia's most active sustainability-linked borrowers in global debt capital markets.
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