The World Bank issued its first ‘green bond’ in the Asia-Pacific region on January 18, raising NZ$150 million ($107.1 million) in a deal aimed specifically at Japanese retail investors. Market participants say the five-year issue may be the first of many environmental bond deals this year.
Sources at Daiwa Securities, the lead manager, say the bond was issued in New Zealand dollars rather than yen to capitalise on the yield pick-up between the two currencies.
The coupon rate for the triple-A rat
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