Bloomberg News

ADB Sells $339 Million Clean Energy Bonds to Fuel Asian Demand

May 16, 2012

The Asian Development Bank sold $339 million in clean-energy bonds to fund renewable and efficiency projects to secure power supplies for Asia’s growing economies.

Nomura International Plc, a unit of Japan’s Nomura Holdings Inc. (8604), arranged the sale and the bonds were placed with Japanese retail investors, the Manila-based Asian Development Bank said today in a website statement.

The ADB was the third-biggest issuer of green bonds at the end of 2011 with $897 million after the World Bank and European Investment Bank, according to Bloomberg New Energy Finance. The International Finance Corp. sold its first green bonds in the U.S. market to raise $500 million for climate projects in emerging markets, the World Bank unit said in April.

“Asia needs to meet its growing energy needs in ways that don’t pollute the air we breathe or water we drink,” Mikio Kashiwagi, ADB treasurer, said in the statement. “To do that, there needs to be more investment in clean-energy projects”.

The bonds, often called green, climate or clean-energy bonds, can be issued by the leading development banks to fund air, water and energy projects that help fight climate change and people affected by it.

The ADB raised A$15.3 million ($15.2 million), 147 million Brazilian real ($73.4 million) and 452 million Turkish liras ($247 million) through the sale, according to the statement. The transaction was its second clean-energy bond sale to Japanese retail investors.

The bank, formed in 1966 to improve the welfare of people in Asia and the Pacific, invested $2.1 billion in clean-energy projects last year, according to the statement.

To contact the reporter on this story: Sally Bakewell in London at sbakewell1@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net


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