IFC issues IDR-2trn green bond in Indonesia

Image by: Addy Cameron-Huff.

October 8 (Renewables Now) - The International Finance Corporation (IFC) announced today it has issued its inaugural Komodo green bond in Indonesia, raising about IDR 2 trillion (USD 131.2m/EUR 114.3m) to combat climate change.

IFC said that this is the first such green Komodo offshore Rupiah-denominated issuance by a multilateral development bank, aimed at financing underlying infrastructure and climate-related projects in the country. It noted that there was strong interest in this five-year bond from a diverse group of international investors.

The bond will be listed on both the London Stock Exchange and the Singapore Stock Exchange. It was underwritten by Bank of America Merrill Lynch, JP Morgan and Standard Chartered Bank.

“Investors reacted positively to IFC’s debut Komodo (Indonesian Rupiah) transaction, with the eurobond issue attracting more demand than originally intended. Given current volatility in emerging markets, the deal’s oversubscription represents a high level of success,” commented John Lee Tin, head of SSA DCM, JP Morgan.

(IDR 1,000 = USD 0.066/EUR 0.057)

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