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WASHINGTON: The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) issued a 2-year Sustainable Development Bond raising CNH 500 million (approximately US$ 77 million equivalent) while engaging with investors to raise awareness for the importance of combatting food loss and waste. These challenges are outlined by Sustainable Development Goal 12.3: halving food waste by 2030. The bond was placed with investors committed to highlighting the importance of this theme, with Gavekal Capital Limited as the lead investor. HSBC Bank plc acted as sole lead manager for the transaction.
Jingdong Hua, Vice President and Treasurer, World Bank, said, “Supporting countries to address the climate and social impacts of food loss and waste is a key priority for the World Bank particularly as the COVID pandemic has exposed both supply chain vulnerabilities and may add up to 130 million undernourished people in the world. We thank investors who participated in this
World Bank Issues Sustainable Development Bond in Chinese Yuan and Raises Awareness for Food Loss and Waste miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) priced two Sustainable Development Bonds – a USD 3 billion 2-year bond maturing in April 2023 and a USD 5 billion 7-year bond maturing in April 2028. The transactions provided options for a wide variety of investors seeking short-term and medium-term investment opportunities in the Supranational, Sovereign and Agency (SSA) market, where supply for 2- and 7-year maturities is limited.
The transactions, which attracted over 250 orders with the order book reaching USD 14 billion across both tranches, appealed to a broad and globally diverse group of investors seeking high credit quality alongside sustainable investment. There was strong demand from central banks and official institutions, banks and bank treasuries, as well as, pension funds, insurance companies and asset managers.
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, it is the original member of the World Bank Group and operates as a global development cooperative owned by 189 nations. The World Bank provides loans, guarantees, risk management products, and advisory services to middle-income and other creditworthy countries to support the Sustainable Development Goals and to end extreme poverty and promote shared prosperity. It also provides leadership to coordinate regional and global responses to development challenges. The World Bank has been issuing sustainable development bonds in the international capital markets for over 70 years to fund programs and activities that achieve a positive impact. More information on World Bank bonds is available at www.worldbank.org/debtsecurities.