Tuesday, June 18, 2024
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IDB launches inaugural Indonesian Ruipiah sustainable development bond

WASHINGTON, USA — The Inter-American Development Bank (“IDB” or “IADB”), rated Aaa/AAA, priced a new 3-year fixed rate Sustainable Development Bond (“SDB”) with Deutsche Bank as sole arranger in Indonesian Ruipiah (IDR) valued in 1,375,500 billion, equivalent to US$ 100 million.

This transaction represents the IDB’s inaugural SDB issuance in Indonesian Ruipiah. The proceeds of this transaction will be directed to support sustainable development in IDB’s member countries aligned with the Bank’s strategic priorities to reduce poverty and inequalities in Latin America and the Caribbean by promoting economic and social development in a sustainable, climate-friendly way. Each strategic priority of the IDB aligns to at least one of the United Nations Sustainable Development Goals (SDGs), with all goals covered within the IDB institutional strategy, which may be adapted from time to time should the United Nations SDGs definition evolve.

“IDB is pleased to issue our first-ever Sustainable Development Bond denominated in Indonesian Rupiah. IDB has now issued Sustainable Development Bonds in seven different currencies and we hope to grow this number in 2020 due to strong investor demand for socially responsible investments,” says Laura Fan, head of funding at IDB.

“We are proud to have structured the first Sustainable Development Notes denominated in Indonesian Rupiah. The offer was very well received by real money investors in the US, Europe and Asia Pacific where there is continued demand for investments in the environmental, social and governance (ESG) theme. Investors with ESG mandates are rallying to support development banks with clear strategic priorities linked to Sustainable Development Goals. With demand strong and attractive pricing terms, it’s a good time for development banks to finance,” says Ashok Das, Deutsche Bank’s head of Asia local markets trading and solutions.



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