Washington, DC, January 29, 2015 – The subscription period for the first green bond denominated in Indian Rupee (INR) issued by the World Bank (International Bank for Reconstruction and Development, IBRD), rated Aaa/AAA (Moody’s/S&P) closed yesterday. The INR 348.5 million green bonds were sold to Japanese retail investors during the subscription period from January 13 to January 28, 2015. Crédit Agricole was the sole underwriter for this transaction.
World Bank Green Bonds support the financing of projects in member countries that meet specific criteria for low carbon and climate resilient growth, seeking to mitigate climate change or help affected people adapt to it. The types of eligible projects 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.
Summary of Terms:
Issuer: World Bank (International Bank for Reconstruction and Development, IBRD)
Issuer rating: Aaa/AAA
Amount: INR 348,500,000
Issue date: January 29, 2015
Maturity date: January 30, 2020
Issue price: 100%
Coupon rate: 4.20% per annum
Lead manager: Crédit Agricole Corporate and Investment Bank
Clearing / Settlement: Clearstream/Euroclear
About the World Bank
The World Bank (International Bank for Reconstruction and Development, IBRD), rated Aaa/AAA (Moody’s/S&P), is an international organization created in 1944 and the original member of the World Bank Group. It operates as a global development cooperative owned by 188 nations. It provides its members with financing, expertise and coordination services so they can achieve equitable and sustainable economic growth in their national economies and find effective solutions to pressing regional and global economic and environmental problems. The World Bank has two main goals: to end extreme poverty and promote shared prosperity. It seeks to achieve them primarily by providing loans, risk management products, and expertise on development-related disciplines to its borrowing member government clients in middle-income countries and other creditworthy countries, and by coordinating responses to regional and global challenges. It has been issuing sustainable development bonds in the international capital markets for over 60 years to fund its activities that achieve a positive impact. Information on bonds for investors is available on the World Bank Treasury website: www.worldbank.org/debtsecurities
For more information about World Bank green bonds, see: http://treasury.worldbank.org/greenbonds.
About Crédit Agricole Corporate and Investment Bank
Crédit Agricole Corporate and Investment (CACIB) is the Corporate and Investment Banking arm of the Crédit Agricole Group, the world’s No.8 Bank measured by total assets (The Banker, July 2014). CACIB offers its clients a comprehensive range of products and services in capital markets, investment banking, structured finance and corporate banking. CACIB provides support to clients in large international markets through its network with a presence in major countries in Europe, America, Asia and the Middle East.