Oct 31, 2016
IFC, a member of the World Bank Group, issued a first-of-its-kind bond that gives investors the option of getting repaid in either carbon credits or cash, raising $152 million to support private sector development and prevent deforestation in developing countries.
Placement agents, including J.P. Morgan, played an important role in fine-tuning the bond structure by road-testing the design with a broad set of potential investors.
“J.P. Morgan is proud to be part of IFC’s innovative new forestry bond,” said Marilyn Ceci, Managing Director, Head of Green Bonds, J.P. Morgan. “We are pleased to bring together like-minded investors and issuers in this first-of-its-kind offering and provide new opportunities through which social and environmentally-conscious participants in the bond market can help mitigate climate change.“