Arthur Cox Listing Services was very pleased to act as listing agent in Ireland to list EUR 1,500,000,000 0.25 per cent. Notes due 21 May 2029 for International Bank for Reconstruction and Development. The trade dual listed on the Luxembourg Stock Exchange and Euronext Dublin.
The net proceeds from the sale of the Notes will be used by IBRD to finance sustainable development projects and programs in IBRD’s member countries (without being committed or earmarked for lending to, or financing of, any particular projects or programs). IBRD’s financing is made available solely to middle income and creditworthy lower-income member countries who are working in partnership with IBRD to eliminate extreme poverty and boost shared prosperity, so that they can achieve equitable and sustainable economic growth in their national economies and find sustainable solutions to pressing regional and global economic and environmental problems. Projects and programs supported by IBRD are designed to achieve a positive social impact and undergo a rigorous review and internal approval process aimed at safeguarding equitable and sustainable economic growth.
This transaction continues Arthur Cox’s involvement in advising on green and sustainable finance, which includes its role as advisor to the managers on the October 2018 landmark issuance of Ireland’s (acting through the National Treasury Management Agency) (NTMA) first sovereign green bond, the proceeds of which will be used to finance Ireland’s transition to a low carbon, climate-resilient and environmentally sustainable economy.