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London Stock Exchange welcomes first-of-its-kind CIF Capital Markets Mechanism to the International Securities Market

Posted: 03 February 2025

The Climate Investment Funds (CIF), one of the largest multilateral climate funds in the world, celebrates the listing of CIF Capital Markets Mechanism’s (CCMM) bond issuance program on the London Stock Exchange. With its inaugural bond six times oversubscribed and an orderbook totaling over $3 billion, CCMM marks the beginning of a new era in climate finance.

Established in 2008 to mobilize climate finance at scale for developing countries, CIF has to date supported over 400 projects in 80+ countries worldwide. Through large-scale, low-cost, long-term financing it has successfully built track records in unproven markets and crowded in finance for pioneering climate solutions, with over $12 billion pledged in total. CIF’s flagship Clean Technology Fund (CTF) has mobilized an impressive $11 in additional finance for every dollar invested.

All eyes on the CIF Capital Markets Mechanism

Watch the behind the scenes story of how partnership is paving the way for a new era in climate action.

A world first for climate finance

With CCMM, CIF has for the first time used the strength of its balance sheet to access private capital through global financial markets. Rated Aa1 by Moody’s and AA+ by Fitch, the CCMM is a groundbreaking new initiative set to unlock new levels of private funds for clean energy projects around the world.

By issuing fixed income securities, CCMM enables the front-loading of reflows from CIF’s CTF long-term loan portfolio. The funds raised through CCMM bonds will enable high-impact clean energy infrastructure in developing countries, including renewable energy generation and integration, industry decarbonization and clean technology supply chains.

The World Bank acts as CCMM’s Treasury Manager, CIF’s Trustee and host of the CIF Secretariat. BofA Securities, BNP Paribas, HSBC und TD Securities have been selected as Lead Managers for CCMM’s inaugural transaction.

Tariye Gbadegesin
CEO of Climate Investment Funds

 

“Today we celebrate the first time a multilateral climate fund has raised investment capital directly from international capital markets. CCMM’s strong credit quality and robust financial structure have attracted investors from around the world who recognize the enormous potential of low-carbon technologies. This historic entry on the London Stock Exchange builds on CIF’s 16-year track record of success, freeing up urgently-needed funds to drive the global energy system transformation founded on clean energy and clean technology.”

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