Fiji’s inaugural sovereign blue bond worth $20million issued on November 8 this year was oversubscribed by three times the issuance amount.
The Government had issued $15million for a maturity of 15 years with a coupon of 4.2 per cent and another $5million for a three-year term with a coupon of 1 per cent.
According to the Government, the bond was oversubscribed with a total bid of more than $60million.
It stated the oversubscription showed the great interest, confidence and commitment of Fijian investors in sustainable financial instruments.
“A total of 18 projects have been selected for funding through the blue bond, which are expected to yield multiplier economic and environmental benefits focusing on four key thematic areas: coastal protection, aquaculture sector, developing sustainable towns and cities with blue town concepts, and enhancing solid waste management,
“ the Government said in a statement.
“These projects will support employment and income growth in those areas.
“The bond issuance has been independently reviewed and approved by Sustainalytics, which is one of the world’s leading rating agencies for thematic bond issuances.”
The Government says technical support was provided through the United Nations Development Programme (UNDP) and financial support from the Government of the United Kingdom’s Blue Planet Fund.
