NEWS
NADB prices inaugural green deal
07/09/2018 Since 3 years

The North American Development Bank (NADB) has entered the green bond market for the first time with a CHF125 million ($126.4 million) bond, managed by Credit Suisse.

The bond will mature in July 2026 and pays a coupon of 0.30%, although NADB will receive three-month $ Libor plus 42.20 basis points, as a result of a cross-currency interest rate swap it has arranged.

NADB said its environmental mandate “aligns very well with the core components of the Green Bond Principles”. Net proceeds will be used to fund projects in renewable energy, sustainable water and wastewater management, energy efficiency, and pollution prevention and control.

Sustainalytics has given a second party opinion on the bank’s green bond framework which concluded that is “credible and impactful” and aligns with the Green Bond Principles.

NADB is capitalised and governed equally by the US and Mexico. It aims to help develop and finance environmental infrastructure projects with public and private sector sponsors in the border region between the two countries. As of 31 December, it had $1.29 billion in outstanding loans to projects in the region. It has a credit rating of Aa1 from Moody’s and AA from Fitch.

Environmental Finance

This post is also available in: Spanish

LATEST NEWS
Asset owners set and commit to report on 2025 targets to support 2050 net-zero emissions
Thirty-three of the world’s largest investors have committed to setting and reporting on 2025 targets to support the transition to net-zero greenhouse gas emissions by 2050. The final Net-Zero Asset Owner Alliance’s I...
Since 1 week Read More
Chile’s Energy Efficiency Law was approved
The Energy Efficiency Law aims to make rational and efficient use of resources. It covers the three sectors that account for most of the country's energy consumption: transport (37%); industry and mining (40%) and the...
Since 2 weeks Read More
With support from the IDB Group, BDMG makes its debut on the international sustainable securities market
IDB Invest, a member of the IDB Group, announced the acquisition of a seven-year $50 million sustainable bond issued by Banco de Desenvolvimento de Minas Gerais S.A. (BDMG). The operation consolidates BDMG as the firs...
Since 4 weeks Read More