World Bank adds an extra day to offer period for Green Growth Bonds

New York, Jan. 7 – The World Bank (International Bank for Reconstruction and Development) added an extra day to the offer period for its Green Growth Bonds linked to the Ethical Europe Equity index.

Investors were able to buy the securities from 3 a.m. ET until 10 a.m. ET on Wednesday.

The issuer said the extra day was in response to the “success” of the offer.

Previously the World Bank sold $88,370,200 of the bonds in a transaction that was launched to retail investors in Belgium on Nov. 17 and closed on Dec. 30.

The bonds were developed through a partnership with BNP Paribas Corporate and Investment Banking.

Investors can benefit from the potential growth of an equity index while supporting World Bank-financed projects that have a positive climate impact, according to a press release at the time of the launch.

The bond’s proceeds are allocated to support projects aimed at addressing climate change. Investors are entitled to the repayment at maturity of 100% of their original investment in dollars, plus a potential redemption premium that is linked to the Ethical Europe Equity index. The index consists of 30 European stocks that are selected by Vigeo, an independent environmental, social and governance rating agency, and Forum Ethibel, an independent Belgian consulting agency that rates and audits sustainability, ethics and social responsibility metrics of corporations.

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