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IDB Issues Poverty Reduction Bonds

Jun 24, 2010 News

With the aim of supporting better living conditions for new generations in Latin America and the Caribbean the Inter-American Development Bank (IDB) has announced the issuance of Poverty Reduction Bonds in association with the Daiwa Securities Group.
The Poverty Reduction Bonds, the first theme bond by the IDB, will be issued under the IDB’s Global Debt Programme. The bonds will be denominated in Brazilian real (payable in USD), and the offering period is expected to be in July, 2010.
The proceeds raised through the bonds shall foster poverty reduction goals that support the economic and social developments in Latin America and the Caribbean.
Daiwa Securities Capital Markets Co. Ltd., the wholesale securities firm under the Daiwa Securities Group, is managing the sale and Daiwa Securities Co. Ltd., the Group’s retail securities firm, will distribute the bonds to Japanese retail investors.
The IDB is the leading source of long-term development lending for Latin America and the Caribbean. About 40 percent of its total lending goes to poverty alleviation programs, which support health services as well as nutrition programmes.
The IDB has been closely working with cash transfer programmes in 16 countries in the Latin America and the Caribbean.
The Bank’s Poverty Reduction Bonds provide an opportunity to Japanese retail investors to contribute to poverty reduction in Latin America and the Caribbean.
The bond period is four years and bonds will reach maturity in July 2014 with an interest of  8.10% ± 0.7 5% per annum.

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