World Bank Prices Bond Linked to CDM Project

9 June 2008: The World Bank has priced a US$25 million bond linked to Certified Emissions Reductions (CERs) to be generated by a Clean Development Mechanism (CDM) project in China. The five-year bond, which is the first of its kind in the market, will initially pay a fixed coupon of three percent. Payment on the bond will then switch to a coupon linked to the future performance of CER market prices and the actual delivery of CERs generated by the project, a hydropower plant in China's Guizhou province. [World Bank News and Broadcast] [Clean Development Mechanism in China]