Skip to main content
IDB launches inaugural Sustainable Development Bond (“SDB”)

Proceeds from CAD600 million transaction will finance IDB projects aligned with the Sustainable Development Goals.

Washington, D.C. – The Inter-American Development Bank (IDB or IADB), rated Aaa/AAA (Moody’s/S&P), priced a new CAD600 million 5-year fixed rate l Sustainable Development Bond (“SDB”).

This transaction represents the IDB’s inaugural SDB issuance, the proceeds of which will be directed to support sustainable development in IDB’s member countries aligned with the Bank’s strategic priorities to reduce poverty and inequalities in Latin America and the Caribbean by promoting economic and social development in a sustainable, climate friendly way. Each strategic priority of the IDB aligns to at least one of the United Nations Sustainable Development Goals (SDGs), with all goals covered within the IDB institutional strategy, which may be adapted from time to time should the United Nations SDGs definition evolve. With this Sustainable Development Bond, the IDB raises awareness for SDG#11: Sustainable Cities and Communities, which aims to make cities and human settlements inclusive, safe, resilient and sustainable by 2030. 

“The IDB is pleased to issue its inaugural sustainable development bond highlighting SDG 11—Sustainable Cities and Communities.  This bond fosters awareness amongst investors of IDB’s commitment to the UN Sustainable Development Goals and how IDB embraces sustainability as a core element of our work in Latin America and the Caribbean.  The growth of the ESG sector in Canada led us to focus on this market and the larger than expected size was an excellent outcome.  Going forward, the IDB hopes to become a more regular issuer in Canadian dollars.” Said Gustavo De Rosa, Chief Financial Officer of the IDB.

“RBC Capital Markets is honored and delighted that IADB has chosen the CAD market to launch what we believe will be the first of many successful Sustainable Development Bond transactions. This bond offering highlights IADB’s strong support of the UN sustainable development goals and meets the needs of a rapidly growing list of like-minded ESG investors who appreciate high disclosure standards and pristine credit quality. The success of this bond offering also highlights IADB’s focused and consistent investor relations program, which has maintained strong relationships with key investors in this market,” said Rob Brown, Head of RBC’s Canadian Debt Capital Markets franchise.

“Scotiabank was proud to support the Inter-American Development Bank’s CDN $ 600mm benchmark issue – the inaugural issuance against the IADB’s Sustainable Development Framework. The success of this upsized, solid transaction targeted towards Sustainable Cities and Communities recognizes the rapid development of the domestic ESG investment community in Canada,” said Bob Nguyen, Global Head of Fixed Income Origination, Scotiabank.

“We are delighted to be involved in the first Sustainable Development Bond offering for IDB. With this new product, IDB can meet the growing needs of global investors for highly rated assets that support the UN sustainable development goals, while illuminating the strategic priorities of IADB and diversifying their funding program. The Canadian Dollar market has become integral for sustainable development bond issuance and we congratulate the IDB team on a successful return to this market,” said Salvatore Aloisi, Managing Director, Head of Fixed Income Origination, Syndication and Distribution.

“The IDB sustainable development bond helps Sun Life align its investments to support the transition to a lower carbon and more inclusive global economy," said Randall Malcolm, Managing Director, Sun Life Assurance Company of Canada.

The bonds were sold to 25 investors across the world including PSP Capital, Bank of Nova Scotia Treasury, Sun Life and Nomura Asset Management. 

Investor Distribution        

Geographic Region









Investor Type



Asset Managers


Pension Funds/Insurance


Central Banks/Official Institutions  


The new issue carries a semi-annual coupon of 1.70% and will mature on October 10, 2024. It was priced with a spread of 35.5 basis points over the 1.5% GOC due September 1, 2024. The pricing translates to a semi-annual yield of 1.737%.

Bond Summary Terms*

Issuer: Inter-American Development Bank

Issuer rating: Aaa/AAA

Amount: CAD 600 million

Settlement date: October 10, 2019

Coupon: 1.70%

Coupon payment dates: Semi-annually on April and October 10, starting on April 10, 2020 up to and including the Maturity Date

Maturity date: October 10, 2024

Issue price: 99.824%

Denominations: $1,000

ISIN: CA458182EA63

Listing: London Stock Exchange

Clearing system: CDS, Euroclear, Clearstream

Joint lead managers: RBC Capital Markets, Scotiabank, and TD Securities


*This press release is not an offer for sale of the securities of the Inter-American Development Bank. Any offering of IDB securities will be made only by means of a prospectus or other definitive offering document that contains important information about the securities, the offering and IDB. Offerings of securities will be made only in compliance with applicable laws.

About the IDB

The Inter-American Development Bank is a multilateral financial institution supporting Latin America and the Caribbean’s efforts to reduce poverty and inequality, and to bring about development in a sustainable, climate-friendly way. Established in 1959, it is the leading source of development financing for Latin America and the Caribbean, with a strong commitment to achieving measurable results.

External Contacts

Andrea Ortega

Andrea Ortega
Additional Contacts

Fan,Laura Emily

Fan,Laura Emily
Jump back to top