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World Bank Announces the Issue of USD 280 Million Green Bond with the California State Treasurer’s Office as the Lead Order

 

Washington DC, April 12, 2016 - Today, the World Bank (International Bank for Reconstruction and Development, IBRD, rated Aaa/AAA) announced its USD 280 million 2-year green bond. The transaction carries a fixed coupon of 1.005% with a maturity of October 1, 2018. The California State Treasurer’s Office provided the lead order for the transaction. Other investors participating in the transaction included Calvert Investments. J.P Morgan was the sole lead manager for this transaction.

World Bank green bonds offer investors an opportunity to support environmental solutions through a bond product that benefits from the triple-A credit strength of the World Bank. 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.

“This is a win-win for Californians who are not only interested in safe, solid-performing investments, but want to move the needle on combatting climate change,” said California State Treasurer John Chiang. “My office is excited about participating in the burgeoning green bond market, but we want to do it right. We want to raise money to combat climate change at the same time we get the best possible deal for our taxpayers.”

“World Bank green bonds help mobilize capital for projects that offer climate solutions. We welcome the continued support for the World Bank and the green bond market in general from key investors such as the California State Treasurer’s Office and Calvert Investments who recognize the value of investing for the future through bonds issued by the World Bank,” said Arunma Oteh, Vice President and Treasurer at the World Bank.


Transaction Summary:

Issuer:
World Bank
(International Bank for Reconstruction and Development, IBRD)
Issuer rating:
Aaa /AAA (Moody's / S&P)
Maturity:
October 1, 2018
Amount:
USD 280,000,000
Settlement date:
April 21, 2016
Coupon:
1.005%
Issue price:
100%
Denomination:
USD 1,000
Listing:
Luxembourg Stock Exchange
Clearing systems:
DTC
Sole lead managers:
J.P. Morgan Securities plc
ISIN:
US45905UW09


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 and 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/cmd/htm/WorldBankGreenBonds.html

About J.P. Morgan's Corporate & Investment Bank
J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $20.3 trillion of assets under custody and $358.9 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at www.jpmorgan.com.


 

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