London Stock Exchange welcomes IDB Invest to London Stock Exchange’s Sustainable Bond Market

Today, London Stock Exchange announces that IDB Invest, the IDB Group’s private sector institution rated Aa1/AA/AAA, issued its inaugural USD 1 Billion Sustainable Benchmark Bond at the standard segment of the Main Market after it raised USD 1 billion in funding through a 5-year fixed rate benchmark issue and was 1.4 times oversubscribed.

This was IDB Invest’s inaugural benchmark issued under its newly released Sustainable Debt Framework, the first ICMA-aligned Sustainability Debt Framework from a high-grade multilateral development bank. 

The bond issue did very well, attracting new investors including 25% from green and sustainability-focused investors. The bond proceeds will finance eligible green and social projects supporting IDB Invest’s strategy to reignite growth through the private sector in Latin America and the Caribbean.

Latin America is seeing a boom in sustainable debt sales, as investors looking for larger returns in environmentally and socially friendly securities grow more comfortable with buying high-yield bonds. 

James P. Scriven, IDB Invest CEO, said: “IDB Invest is uniquely positioned to provide investors with real, measurable impact. Our first Sustainable Bond conveys our commitment to sustainable development. 

We are leaders when it comes to green and social bonds, and we want to be pioneers too: in a region now jumpstarting its economic recovery, with plenty of capital needs, we have aligned ourselves with the best market practices.” 

Mauricio Claver-Carone, IDB President, said: “We are thrilled with the success of IDB Invest’s first Sustainable Bond and its listing in the London Stock Exchange. 

The Inter-American Development Bank Group promotes its impactful private sector work through IDB Invest because it is the partner of choice in Latin America and the Caribbean to support inclusive and sustainable growth.”

2020 was a record year for IDB Invest, where its COVID-response bonds attracted more new investors than ever. This year, IDB Invest launched its Sustainable Debt Framework in the conviction that this is the time to reignite growth in Latin America and the Caribbean through the private sector.   

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
-
Listing/Admission to trading
10 Feb 2021
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