By Wendy Van Sickle
Columbus, Ohio, Nov. 17 – World Bank (International Bank for Reconstruction and Development) (Aaa/AAA) issued Ps. 75 million and TRY 8 million of new three-year sustainable development bonds to Italian investors, according to a press release.
The bonds pay a quarterly coupon in euros at an annual rate of 4.1% for the peso-denominated bond and 6.8% for the Turkish lira-denominated bond. Both bonds are due Nov. 16, 2019.
The bonds provide an opportunity for retail investors to combine their financial objectives with social and environmental sustainability goals, according to the release.
This is the first time the World Bank has issued bonds denominated in either of those currencies for Italian retail investors.
The bonds were offered from Oct. 31 to Nov. 8 via the Mercato Telematico delle Obbligazioni.
They will be listed on Borsa Italiana starting on Nov. 16. BNP Paribas will act as liquidity provider.
BNP Paribas acted as dealer
The World Bank said it raises funds in the international capital markets to support sustainable development projects in borrowing member countries. Projects focus on poverty reduction and inclusive growth across sectors including education, healthcare, agriculture and food security, and essential infrastructure.
The global development financing cooperative is based in Washington, D.C.
| Issuer: | International Bank for Reconstruction and Development (World Bank)
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| Issue: | Sustainable development bonds
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| Amount: | Ps. 75 million, TRY 8 million
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| Coupon: | 4.1% for peso-denominated bond, 6.8% for Turkish lira-denominated bond
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| Maturity: | Nov. 16, 2019
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| Distribution: | Italian retail investors
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| Issue date: | Nov. 16, 2016
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| Dealer: | BNP Paribas
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