IDB invest, part of the Inter-American Development Bank Group, has raised $49m for green projects with its latest bond issue.
Sumitomo Life Insurance was the complete shareholder, taking 100% of the issuance, which has a 1.749% coupon over 10 years. The deal was conducted in Australian dollars at A$68m.
It is the second green bond issued by IDB and will be used to target decarbonizing private sector-led projects, as part of a “new approach focused on consistent support for long-term decarbonization and climate resilience efforts”.
Daiwa was the lead manager on the transaction.