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Impact Investment Exchange partners Australia government body for US$100m bond

SINGAPORE-BASED capital firm Impact Investment Exchange (IIX) now counts Australian Government’s Department of Foreign Affairs and Trade (DFAT) as one of its partners for its US$100 million Women’s Livelihood Bond (TM) Program (WLB2) bond series, which is on track to launch in the second quarter of this year.

It will be sold in three tranches. DBS Bank, Shearman & Sterling LLP, Latham & Watkins LLP, and Cyril Amarchand Mangaldas are the other partners.

Proceeds from WLB2 will go to a group of impact enterprises that will benefit one million underserved women in Asia. Issuances from WLB2 will be listed on a stock exchange and planned to be sold to investors globally according to a media statement by DBS earlier announcing their partnership.

Durreen Shahnaz, CEO and founder of IIX, said: “We are thrilled to partner with Australia’s DFAT who share our vision to drive women’s empowerment in Asia and beyond. Our Women’s Livelihood Bonds demonstrate that we can do this while unlocking untapped private investment. In order to grow the impact investing market, we must all move beyond a reliance on the good will of philanthropic investors and start to provide attractive financial products that engage traditional private sector investors.”

IIX's Women’s Livelihood Bond TM (WLB1) was issued and listed on the Singapore Exchange in 2017. It was the world’s first social sustainability bond to be listed on a stock exchange, and had an issuance of US$8 million, with a four-year tenor and a coupon rate of 5.65 per cent a year.

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DBS, partner target US$100m for women's livelihood bond programme

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