Record PLC Investment in World Bank Sustainable Bond
20 Dezember 2021 - 1:59PM
RNS Non-Regulatory
TIDMREC
Record PLC
20 December 2021
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 20(th) , 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.
END
NRAURONRAAUUURA
(END) Dow Jones Newswires
December 20, 2021 07:59 ET (12:59 GMT)
Record (LSE:REC)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Record (LSE:REC)
Historical Stock Chart
Von Jul 2023 bis Jul 2024