The Opec Fund for International Development (Opec Fund) said it has priced its inaugural benchmark bond issue in the capital markets using the sustainable development goal (SDG) bond framework on which Credit Agricole CIB acted as sole sustainability advisor.
Attracting strong demand from investors globally, the three-year fixed-rate sustainability bond raised $1 billion, which will be used to finance or refinance key sustainable development projects that are aligned with the Opec Fund’s multi-sectoral development mission and directly contribute to achieving the SDGs.
The bond attracted very broad interest with 52% of investors coming from Europe, Middle East and Africa (EMEA), 27% from Asia-Pacific (APAC) and 21% from North America (NAM), said the statement from Opec Fund.
In terms of investor type, central banks & official institutions accounted for 62 percent, banks 19 percent, asset managers 9% and insurance/pension funds for 8%, it added.
Opec Fund Director-General Dr Abdulhamid Alkhalifa said: “The robust demand for our inaugural benchmark is testament to the confidence that investors have in the fund and our long-standing development-focused mandate. It also confirms the appetite for sustainable investments globally.”
