Press release

INVESTMENT IN WORLD BANK SUSTAINABLE BOND

Date 20/12/2021

  • #
  • #
  • #

Investment in World Bank Sustainable Bond

RECORD PLC

 

RNS Number : 1678W                                                                                                                                                                                                                                                              20 December 2021

Record PLC

 

20 December 2021

RECORD PLC

Sole investor in issuance of latest World Bank sustainable bond

Record plc ("Record" or "the Company"), the specialist currency and derivatives manager, is pleased to announce that the Record Emerging Market Sustainable Finance Fund, launched this year in collaboration with UBS Wealth Management, was the sole investor in the latest transaction of the Sustainable Development Bonds issued by the World Bank (International Bank for Reconstruction and Development, IBRD) in local currency.

On December 20th, the World Bank has issued a Georgian lari 31 million 2-year Sustainable Development Bond, equivalent of circa USD 10 million, whilst advocating the importance of road safety with its "Safe System" which contributes to the Sustainable Development Goals (SDGs). Record was the sole investor in this issuance. The note was arranged by Bank of America-Merrill Lynch and the Georgian Lari currency exposure was sourced ultimately from TCX-the currency exchange fund, a development driven fund that enables currency impact investments in developing countries.

The World Bank raises funds by issuing Sustainable Development Bonds in the international capital markets to support the financing of sustainable development projects in developing countries across a range of sectors, including among others: agriculture and food security; education; energy; finance; healthcare and social services; environment and gender equality. To diversify its funding program, the World Bank raises funds in a variety of currencies, including local currencies that also support the development of local markets.

With this investment, the World Bank is raising awareness for the importance of road safety and how it is working with member countries to introduce transportation policies and systems that increase safety and reduce road fatalities. Improving the safety of transportation systems directly contributes to several SDGs including Good Health and Well-Being and Sustainable Cities and Communities.

Leslie Hill, CEO, Record plc, said: "We are delighted to be part of this innovative and promising project, which will see the World Bank committing to the advancement of developing countries across a number of important themes, such as road safety and the improvement of local currency markets. This transaction forms part of Record's strategy to grow and diversify our expanding skillset, technical expertise and network in the area of derivatives and sustainable development."

Ruurd Brouwer, CEO, TCX Fund, quoted: "We are thrilled to see Record EM Sustainable Finance Fund investing sustainably in frontier currencies and funding capital projects in developing countries. Sustainable development globally can be advanced greatly by private investors taking the market risk and return that borrowers in emerging markets cannot and should not take. TCX will continue to play the leading role in derisking investments in developing countries and create markets by mobilizing private investors that seek the risk, return and diversification effect. We also thank the World Bank for issuing the local currency note and Bank of America-Merrill Lynch for their structuring role"

For further information, please contact:

 

Record plc                                                                             Tel: +44 (0) 1753 852 222

Leslie Hill, Chief Executive Officer

Steve Cullen, Chief Finance Officer

 

Buchanan                                                                               Tel: +44 (0) 20 7466 5163

Giles Stewart                                                                         record@buchanan.uk.com

Victoria Hayns

Henry Wilson

George Beale

Notes to Editors

 

Record plc

Founded in 1983, Record is an independent, market-leading specialist currency and derivatives manager with over 38 years of experience which has allowed us to develop a deep and fundamental understanding of the risk and reward opportunities within those markets.

Our range of products typically assist our clients in achieving either their risk-reduction (via Currency Hedging) or return-seeking (via Currency for Return) objectives.

Our clients are largely institutions, including pension funds, charities, foundations, endowments, and family offices, as well as other asset managers and corporates.

Record (LSE: REC) was admitted to trading on the London Stock Exchange on 3 December 2007.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

Want the latest insights delivered to your inbox?

Subscribe now

Latest insights

NEW LIQUID MUNICIPAL LOAN FUND LAUNCH
Date 17/01/2022

17 January 2022 RNS Number: 5322Y   RECORD PLC New Liquid Municipal...

Open link here
INVESTMENT IN WORLD BANK SUSTAINABLE BOND
Date 20/12/2021

Investment in World Bank Sustainable Bond RECORD PLC   RNS Number :...

Open link here
BUSINESS UPDATE
Date 01/07/2021

Business Update RNS Number : 4003D Record PLC 29 June 2021  ...

Open link here
SENIOR APPOINTMENT
Date 25/02/2020

Record plc (“Record” or “the Company”), the specialist currency manager, is pleased...

Open link here
TWO THIRDS OF CANADIAN INVESTORS EXPECT USMCA TO...
Date 16/10/2019

Nearly two thirds (64%) of Canadian institutional investors expect the USMCA trade...

Open link here
RECORD CURRENCY MANAGEMENT EXPANDS NORTH AMERICAN OFFICE
Date 08/05/2019

Record Currency Management (“Record”), the specialist currency manager, is pleased to announce...

Open link here
RECORD CURRENCY MANAGEMENT DEVELOPS ESG DATABASE AND CURRENCY...
Date 06/11/2018

Record Currency Management (“Record”)today announces it hasdeveloped a method of improving the...

Open link here
RECORD CURRENCY MANAGEMENT LAUNCHES PLSA CURRENCY ‘MADE SIMPLE’...
Date 17/10/2018

Record Currency Management Limited (“Record”), the specialist currency manager, today launches a...

Open link here
RECORD CURRENCY MANAGEMENT ENGAGES NEW CHANGE FX
Date 26/09/2018

Record Currency Management Limited (“Record”), the specialist currency manager, is pleased to...

Open link here
RECORD CURRENCY MANAGEMENT EXTENDS RELATIONSHIP WITH WISDOMTREEAND INTRODUCES...
Date 19/09/2018

Record Currency Management Limited (“Record”), the specialist currency manager, is pleased to...

Open link here
Back to Top
Loading...