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BMO helps World Bank raise $8 billion for global pandemic response


With BMO Capital Markets acting as joint lead manager, the World Bank has issued a landmark USD $8 billion dollar, five-year sustainable development bond. It is the largest-ever U.S. dollar-denominated bond issued by a supranational organization – an international body with regulatory authority over its member states.

Capital from the bond sale will help fund the World Bank’s global coronavirus response, with a focus on:

  • Strengthening healthcare systems in developing countries
  • Supporting local COVID-19 communication campaigns
  • Reducing the economic impact of the pandemic by protecting the poor and vulnerable, supporting local businesses and building economic resilience

Dan Barclay, CEO and Group Head, BMO Capital Markets, called global investor response “overwhelming,” and expressed BMO’s pride in contributing to the record-breaking transaction. “During this unprecedented time, it is an honour to work with the World Bank again on another influential transaction,” said Dan. “Strengthening existing health systems in developing countries is part of the World Bank’s fast track approach and is aligned with our priorities and purpose at BMO for community involvement during the COVID-19 pandemic. We are proud to be a part of this global solution.”

Read about our earlier collaborations on World Bank bonds here and here.

Read more about the relationship between COVID-19 and sustainable finance.

Learn more about sustainable finance at BMO.

BMO Capital Markets is a trade name used by BMO Financial Group for the wholesale banking businesses of Bank of Montreal, BMO Harris Bank N.A. (member FDIC), Bank of Montreal Europe p.l.c, and Bank of Montreal (China) Co. Ltd and the institutional broker dealer businesses of BMO Capital Markets Corp. (Member FINRA and SIPC) in the U.S., BMO Nesbitt Burns Inc. (Member Investment Industry Regulatory Organization of Canada and Member Canadian Investor Protection Fund) in Canada and Asia, Bank of Montreal Europe p.l.c. (authorised and regulated by the Central Bank of Ireland) in Europe and BMO Capital Markets Limited (authorised and regulated by the Financial Conduct Authority) in the UK and Australia.

 

 



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