BofA Offers Clients World Bank Green Bonds

Bank of America Merrill Lynchwill provideWorld Bank-backed green bonds to the clients ofMerrill Lynch Wealth Management. BofA Merrill will arrange and offer the bonds through itsMerrill Lynch Global Wealth Managementplatform. Previously, World Bank sold the bonds using its credit rating system to raise funds for renewable energy projects in developing countries.

The first World Bank Green Bonds to be offered through BofA Merrill Lynch were unveiled in the second quarter of 2011. The bonds will mature on May 24, 2021. The bonds will have a coupon rate of 3.5% for the first year and a floating three-month USD-Libor based coupon after that.

Click here for the release fromBank of America.