World Bank offers green bonds linked to Ethical European Equity index

By Angela McDaniels

Tacoma, Wash., March 10 – The World Bank (International Bank for Reconstruction and Development) (Aaa/AAA) launched an offering of 0% dollar-denominated Green Growth Bonds due May 12, 2023 linked to the Ethical European Equity index, according to a bank news release.

The subscription period began Tuesday and will end on April 23. The bonds are being offered to the public across different countries in Europe.

The issue price is par.

At maturity, investors will receive par plus the index return, subject to a minimum payout of par.

The index is made up of 30 European companies that are selected according to sustainability criteria defined by independent organizations.

Bond proceeds will be used to support the financing of projects aimed at addressing climate change.

This is the bank’s second issue of Green Growth Bonds. The first was offered to retail investors in Belgium and Luxembourg. The transaction closed on Jan. 7 with a total subscription amount of $91 million.

The issuer is based in Washington, D.C.

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