AfDB Issues $500M In 3-Year Green Infrastructure Bonds

Law360, New York (October 11, 2013, 5:46 PM EDT) -- The African Development Bank on Thursday issued $500 million in green bonds as part of its first-ever program for investors to put money into sustainable infrastructure on the continent.

The proceeds will support "climate-resilient" projects such as renewable energy power plants, energy-efficiency projects, greener vehicle retrofits, urban mass-transit development, biosphere conservation, waste emission mitigation and water supply projects, the bank announced.

The deal was priced at mid swaps plus 5 basis points and the bank received orders totaling $550 million from willing investors Thursday, according to...
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