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London Stock Exchange celebrates the OPEC Fund for international development debuting their sustainability benchmark

Posted: 20 March 2023

The OPEC Fund for International Development has today opened trading on the London Stock Exchange’s Main Market at an official Market Open ceremony following the successful listing of its debut benchmark bond.

The OPEC Fund for International Development is a globally mandated development finance institution providing financing exclusively from member countries to non-member countries. Since its establishment in 1976, the OPEC Fund has invested more than US$23 billion of its own resources for more than 4,000 projects in over 125 low- and middle-income countries worldwide.

In January 2023, the OPEC Fund issued its inaugural US$ 1 billion, 3-year fixed-rate sustainability bond with a 4.5% coupon which is due January 26, 2026

The bond was admitted to the Official List of the Financial Conduct Authority and to trading on the Main Market of the London Stock Exchange. Notes are also displayed on the London Stock Exchange’s Sustainable Bond Market.

The OPEC Fund bond was issued using its Sustainable Development Goals (SDG) Bond Framework. Proceeds will be used to finance or refinance key sustainable development projects, which are aligned with the OPEC Fund’s multi-sectoral development mission and contribute to achieving the SDGs focussing on food security, healthcare, infrastructure, education, employment and renewable energy.

OPEC Fund Director-General Dr. Abdulhamid Alkhalifa said:
“The placement of our debut bond marks a historic moment for the OPEC Fund, as well as for our development partners. The success of the issuance is testament to the trust put in our institution by high-quality investors; trust based on our sound finances and the strength of our mandate. It is also good news for our partner countries, as we pledge to address rising demand with increased activities.”