Ford and Microsoft invest in $1 billion bond for climate projects | GreenBiz.com - 0 views
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Ford and Microsoft were among investors in a $1 billion green bond launched last week to support "climate smart" investments in emerging markets.
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Proceeds of IFC green bonds are used for private sector investments in renewable energy, energy efficiency and other areas that reduce greenhouse gas emissions, such as installing solar and wind power capacity and providing financing for technology that helps produce energy more efficiently.
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IFC said in a statement that the bond transaction, jointly led by BofA Merrill Lynch, Citigroup, Crédit Agricole CIB and SEB, was heavily oversubscribed and sized to address the demand from "an increasing number of investors interested in climate-related opportunities."
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It marks the second $1 billion green bond transaction this year from the International Finance Corporation (IFC), an Aaa/AAA rated global development institution and member of the World Bank Group.
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Bond issues are seen as an increasingly important way to raise funds for green projects, with the green bond market now estimated at $346 billion after doubling over 2012.