LONDON, Jan 20 — The Opec Fund for International Development, a development institution established by the Organisation of the Petroleum Exporting Countries' member governments nearly 50 years ago, has raised US$1 billion by selling its first ever bond.
It is a label that has a growing appeal for investors increasingly looking to use their resources in more environmentally and socially-beneficial ways. Commercial banks made up another 19 per cent, asset managers and insurance and pension funds accounted for almost all the rest, while geographically overall, 52 per cent of the buyers were from the Europe, Middle East and Africa region, 27 per cent from Asia-Pacific and 21 per cent were from North America.
It may also do"opportunistic" smaller deals alongside it in smaller markets and potentially other currencies."The beauty of having a transaction out there is that you have something to build on," she said.It had originally planned to sell the bond last year but put the plans on hold when the global surge in interest rates triggered by inflation and the war in Ukraine unsettled funding markets.
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