Washington, DC, June 18, 2015 – Today, the World Bank (International Bank for Reconstruction and Development, IBRD, rated Aaa/AAA), announced its first iSTOXX Europe ESG index-linked green bond (the “Notes”) for institutional investors in Europe. The USD 50 million 10-year structured World Bank Green Bond is linked to the performance of the Euro-denominated, price return variant of the iSTOXX Europe ESG Select 30 Index.
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.
Since its inaugural green bond in 2008, the World Bank has now raised more than USD 8.5 billion equivalent through over 100 green bonds in 18 currencies.
Summary Terms of the Notes | |
Issuer: | World Bank (International Bank for Reconstruction and Development, IBRD) |
Issuer rating: | Aaa/AAA |
Amount: | USD 50 Million |
Settlement date: | July 3, 2015 |
Coupon: | 0% |
Maturity date: | July 3, 2025 |
Redemption Amount: | 100% + a Supplemental Payment Amount linked to performance of the iSTOXX Europe ESG Select 30 Index multiplied by a Participation Rate (PR). |
Issue price: | 100% |
Listing: | Luxembourg Stock Exchange |
Clearing systems: | Euroclear, Clearstream |
Lead managers: | J.P. Morgan Securities plc. |
Nothing in this document should be construed as a solicitation or offer, legal, tax or other advice, or recommendation to engage in any transaction. Please see the related Prospectus and Final Terms for a detailed description of the Terms and Conditions of the Notes and the related risks with regard to an investment in the Notes.
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 Group has two main goals: to end extreme poverty and promote shared prosperity. The World Bank (IBRD) 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. The World Bank 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.
