Standard Bank Sells Green Bonds in Biggest African Sale Yet
- $200 million issuance to be listed on London Stock Exchange
- IFC sees investment potential of $588 billion through 2030
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Standard Bank Group Ltd.’s South African unit sold a $200 million green bond to the International Finance Corp. in the largest sale of its kind from the continent yet.
The 10-year facility will be used to finance projects in renewable energy, energy efficiency, water efficiency and the development of environmentally friendly buildings, the Johannesburg-based lender said in an email. The debt will be listed on the London Stock Exchange, making it South Africa’s first offshore green-bond issuance, it said.