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World Bank Issues a 5 million USD Callable Step-Up Green Bond

The World Bank (International Bank for Reconstruction and Development, IBRD, rated Aaa/AAA), announced a USD 5 million 10-year callable step-up green bond. This green bond was lead managed by J.P. Morgan (JPM) which has underwritten $565 million in IBRD green bonds to date.

With this issue, the World Bank has now raised over USD 6.7 billion equivalent through 70 green bonds in 17 currencies, since its inaugural green bond in 2008.

World Bank Green Bonds offer an opportunity for investors to support environmental solutions through a high grade fixed income investment. World Bank Green Bonds benefit from the triple-A credit strength of the World Bank and provide comparable returns to other World Bank bonds.

World Bank Green Bonds raise funds for projects seeking to mitigate climate change or help affected people adapt to it. Examples of the types of projects supported by World Bank Green Bonds include renewable energy installations, energy efficiency projects, and new technologies in waste management and agriculture that reduce greenhouse gas emissions and help finance the transition to a low carbon economy. They also include financing for forest and watershed management and infrastructure to prevent climate-related flood damage and build climate resilience.

Transaction Summary

Issuer: World Bank (International Bank for Reconstruction and Development, IBRD)
Issuer rating: Aaa/AAA
Amount: USD 5 million
Settlement date: September 26, 2014
Maturity date: September 26, 2024
Issue price: 100%
Coupon: Step Up Schedule; Years 1-5: 2.25%, Year 6: 3%, Year 7: 4%, Year 8: 5%, Year 9: 6.50%, Year 10: 8%
Denomination: USD 1,000 and integral multiples of USD 1,000 in excess thereof
Clearing system: DTC
Lead manager: J.P. Morgan (JPM)
ISIN: US45905UQH04

Next Finance , September 2014

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Fixed Income

SRI - ESG - CO2

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