New York, Feb. 18 – The World Bank priced a €30 million green bond due 2045 with a 1.0325% coupon at par, according to a news release.
The issue is the bank’s longest-maturity fixed-rate green bond so far.
Morgan Stanley was lead manager.
The bonds were issued on a reverse inquiry from Zurich Insurance Group.
“With this EUR 30-year green transaction, the World Bank has simultaneously taken advantage of attractive financing in long-dated EURs and combined that with Zurich’s continued interest in procuring green bond investments,” said Andrew Salvoni, head of the green bond syndicate at Morgan Stanley, in a news release.
“The World Bank in partnership with Zurich continues to pioneer the green bond market; this is now the longest-dated fixed-rate EUR green bond outstanding and the second longest-dated green bond issued so far.”
Proceeds from the World Bank’s green bonds are used to finance projects in its member countries that meet specific criteria for low-carbon development and resilient investments. Eligible projects include alternative energy installations, funding for new technologies that reduce greenhouse gas emissions, reforestation, watershed management and flood protection.
The World Bank is a Washington, D.C.-based lender for equitable and sustainable growth.
| Issuer: | International Bank for Reconstruction and Development (World Bank)
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| Issue: | Green bonds
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| Amount: | €30 million
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| Maturity: | Feb. 25, 2045
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| Coupon: | 1.0325%
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| Price: | Par
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| Yield: | 1.0325%
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| Lead manager: | Morgan Stanley
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| Pricing date: | Feb. 17
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| Settlement date: | Feb. 25
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| Ratings: | Moody’s: Aaa
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| Standard & Poor’s: AAA
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