Deutsche Bank, EBRD Issue Green Bonds
NEW YORK (
) -- The European Bank for Reconstruction and Development and
Deutsche Bank AG
(DB) - Get Report
are teaming up to offer bonds whose proceeds will finance environmental sustainability projects.
The EBRD, which invests primarily in private-sector projects from central Europe to central Asia, and estimates that 20% of its annual investments are focused on sustainable energy projects, said the bonds will fund endeavors that aim to improve energy efficiency, water and waste management, environmental services and public transportation.
Deutsche Bank will arrange the first issue of the environmental sustainability bonds, which will be denominated in Australian dollars and pay at a monthly fixed rate of 4.8%, the EBRD said.
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Written by Melinda Peer in New York
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