17 July 2019: The International Bank for Reconstruction and Development (IBRD), one of the member institutions of the World Bank, has launched a five-year Global Sustainable Development Bond in support of the Sustainable Development Goals on clean water and sanitation (SDG 6) and life below water (SDG 14). With BMO Capital Markets, RBC Capital Markets, and TD Securities as joint lead managers, the bond raised CAD 1.5 billion from institutional investors and will be listed on the Luxembourg Stock Exchange.

The Sustainable Development Bond was issued as part of a World Bank initiative to engage investors on the SDGs. The final order book was oversubscribed, with final books in excess of CAD 1.85 billion. According to the World Bank, “the high quality, diversified order book was reflected in the allocation to 47 investors globally.”

On the occasion of the bond launch, the World Bank, the largest multilateral funder for ocean and water projects in developing countries, expressed its commitment to work with countries to ensure access to safe and clean water and for the sustainable use of ocean and marine resources. The instrument’s joint lead managers highlighted that the bond’s success showed how well its thematic focus on the ocean and water resonated with Canadian investors. [World Bank Press Release]