World Bank Prices Bond Linked to CDM Project



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]