ADB’s Inaugural Offering of Green Bonds
March 19, 2015
March 19, 2015
Cleary Gottlieb represented the managers, Merrill Lynch, Morgan Stanley and SEB AG, in an offering by the Asian Development Bank of $500 million principal amount of 2.125% Global Notes due March 19, 2025. This was ADB’s inaugural offering of Green Bonds, the proceeds of which may only be used to finance climate change mitigation efforts, including renewable energy, energy efficiency and sustainable transport projects. The transaction priced on March 12, 2015 and closed on March 19, 2015.
The Asian Development Bank, headquartered in Manila, Philippines, is a regional multilateral organization established in 1966. With a mission to facilitate sustainable economic development in Asia, ADB has grown to encompass 67 members since its establishment, of which 48 are from within Asia and the Pacific and 19 outside.