SEB is again sole lead manager when the World Bank issues its third green bond, this time worth 130 million dollars. The World Bank plans to use the monwy raised in the issue for its programme to finance projects in developing countries that are aimed a reducing carbon.
The World Bank issued its first green bond about one year ago after SEB took the initiative to do so and also lead managed the transaction. A second bond was issued in April with the state of California investing 300 million dollars. Both bonds have been expanded with further investments after the initial issues.
“Interest in the product is great and it is a great honour for us at SEB to manage this international cooperation,” says Christopher Flensborg at Capital Markets.
New first-time investors in the green bond include a unit of SEB’s Swedish life insurance business (Gamla Liv) and Sweden’s second and third national pension funds as well as the California State Teachers Retirement System, the United States’ second largest pension fund.
The United Nations Joint Staff Pension Fund, which has 88,000 members, is also an investor in the new bond.