RCS - Record PLC - Investment in World Bank Sustainable Bond

RecordAnnouncement

20/12/2021 13:00

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RNS Number : 1678W  Record PLC  20 December 2021

20 December 2021

RECORD PLC

Sole investor in issuance of latest World Bank sustainable bond

Record plc ("Record" or "the Company"), the specialist currency and
derivatives manager, is pleased to announce that the Record Emerging Market
Sustainable Finance Fund, launched this year in collaboration with UBS Wealth
Management, was the sole investor in the latest transaction of the Sustainable
Development Bonds issued by the World Bank (International Bank for
Reconstruction and Development, IBRD) in local currency.

On December 20(th), the World Bank has issued a Georgian lari 31 million
2-year Sustainable Development Bond, equivalent of circa USD 10 million,
whilst advocating the importance of road safety with its "Safe System" which
contributes to the Sustainable Development Goals (SDGs). Record was the sole
investor in this issuance. The note was arranged by Bank of America-Merrill
Lynch and the Georgian Lari currency exposure was sourced ultimately from
TCX-the currency exchange fund, a development driven fund that enables
currency impact investments in developing countries.

The World Bank raises funds by issuing Sustainable Development Bonds in the
international capital markets to support the financing of sustainable
development projects in developing countries across a range of sectors,
including among others: agriculture and food security; education; energy;
finance; healthcare and social services; environment and gender equality. To
diversify its funding program, the World Bank raises funds in a variety of
currencies, including local currencies that also support the development of
local markets.

With this investment, the World Bank is raising awareness for the importance
of road safety and how it is working with member countries to introduce
transportation policies and systems that increase safety and reduce road
fatalities. Improving the safety of transportation systems directly
contributes to several SDGs including Good Health and Well-Being and
Sustainable Cities and Communities.

Leslie Hill, CEO, Record plc, said: "We are delighted to be part of this
innovative and promising project, which will see the World Bank committing to
the advancement of developing countries across a number of important themes,
such as road safety and the improvement of local currency markets. This
transaction forms part of Record's strategy to grow and diversify our
expanding skillset, technical expertise and network in the area of derivatives
and sustainable development."

Ruurd Brouwer, CEO, TCX Fund, quoted: "We are thrilled to see Record EM
Sustainable Finance Fund investing sustainably in frontier currencies and
funding capital projects in developing countries. Sustainable development
globally can be advanced greatly by private investors taking the market risk
and return that borrowers in emerging markets cannot and should not take. TCX
will continue to play the leading role in derisking investments in developing
countries and create markets by mobilizing private investors that seek the
risk, return and diversification effect. We also thank the World Bank for
issuing the local currency note and Bank of America-Merrill Lynch for their
structuring role"

For further information, please contact:

 

Record
plc
Tel: +44 (0) 1753 852 222

Leslie Hill, Chief Executive Officer

Steve Cullen, Chief Finance Officer

 

Buchanan
Tel: +44 (0) 20 7466 5163

Giles
Stewart
record@buchanan.uk.com

Victoria Hayns

Henry Wilson

George Beale

Notes to Editors

 

Record plc

 

Founded in 1983, Record is an independent, market-leading specialist currency
and derivatives manager with over 38 years of experience which has allowed us
to develop a deep and fundamental understanding of the risk and reward
opportunities within those markets.

 

Our range of products typically assist our clients in achieving either their
risk-reduction (via Currency Hedging) or return-seeking (via Currency for
Return) objectives.

 

Our clients are largely institutions, including pension funds, charities,
foundations, endowments, and family offices, as well as other asset managers
and corporates.

 

Record (LSE: REC) was admitted to trading on the London Stock Exchange on
3 December 2007.

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