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Tokyo, 4 June 2010 - The International Finance Facility for Immunisation (IFFIm), in collaboration with GAVI Alliance, the World Bank and HSBC Securities (Japan) Limited, announced today that it will begin offering vaccine investment bonds, also known as "vaccine bonds", to Japanese retail investors starting 7 June, 2010.
This multi-tranche transaction includes the first IFFIm bond denominated in Brazilian real (BRL) and settled in JPY. The triple-A rated IFFIm is offering investors the following three investment opportunities:
Four-year fixed term BRL denominated bond settled in JPY
- Offer Period: 7 June ~ 24 June 2010
- Issue Price: 100%
- Coupon: 8.30% (semi-annually)
- Issue Date: 28 June 2010
- Maturity Date: 27 June 2014
Four-year fixed term AUD denominated bond
- Offer Period: 7 June ~ 28 June 2010
- Issue Price: 100%
- Coupon: 4.77% (semi-annually)
- Issue Date: 28 June 2010
- Maturity Date: 27 June 2014
10-year fixed term ZAR denominated deep-discount bond
- Offer Period: 7 June ~ 25 June 2010
- Issue Price: 53.56%
- Coupon: 0.5% (semi-annually)
- Issue Date: 28 June 2010
- Maturity Date: 29 June 2020
Saving lives through Vaccine Bonds
IFFIm vaccine bonds provide investors the unique opportunity to invest their savings and help save the lives of children by supporting immunisation, health systems strengthening and vaccine procurement programs. Funds raised by the bonds will be used to support health and immunisation programmes by the GAVI Alliance in 70 of the world's poorest countries.
From IFFIm's inception in 2006 to the end of 2008, GAVI Alliance has been able to save more than three million lives by accelerating access to immunisation and more than a million additional deaths will be averted as a result of vaccine support given in 2009 and 2010, according to the World Health Organization. It is estimated that IFFIm will have helped GAVI prevent more than four million premature deaths by the end of 2010.
With the World Bank acting as its Treasury Manager and managing IFFIm's finances, IFFIm has raised more than US$2.6 billion to support GAVI immunisation programmes since 2006.
IFFIm is backed by the governments of France, Italy, Netherlands, Norway, South Africa, Spain, Sweden and the United Kingdom, who have pledged to contribute financial support between 2006 and 2026. The proceeds of these pledges are used, among other things, to repay the initial investments plus return.
The bonds are scheduled to be available at the following distributors (list alphabetically) during the respective offering period:
Ando Securities Co., Ltd., Tokyo Branch, Ichiyoshi Securities Co., Ltd., Imamura Securities Co., Ltd., Kimura Securities, Monex Inc., Niigata Securities, Toyo Securities Co., Ltd., HSBC Private Bank (The Hongkong and Shanghai Banking Corporation Limited (Tokyo Branch)), HSBC Premier (The Hongkong and Shanghai Banking Corporation Limited (Tokyo Branch))
About the HSBC Group
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 8,000 offices in 88 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,364 billion at 31 December 2009, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'
About IFFIm
The International Finance Facility for Immunisation Company (IFFIm) is a multilateral development institution created to accelerate the availability of predictable, long-term funds for health and immunisation programmes through the GAVI Alliance (formerly the Global Alliance for Vaccines and Immunization) in 70 of the poorest countries around the world.
IFFIm was created as a development financing tool to help the international community achieve the Millennium Development Goals. IFFIm's financial base consists of legally binding grants payments from its sovereign sponsors (France, Italy, Norway, Netherlands, South Africa, Spain, Sweden and the UK), on the basis of which IFFIm issues bonds in the international capital markets. IFFIm is currently rated AAA/Aaa/AAA by Fitch Ratings Limited ("Fitch"), Moody's Investors Service Inc. ("Moody's") and Standard & Poor's Ratings Services ("S&P").
IFFIm was established as a charity with the Charity Commission for England and Wales and is registered in England and Wales as a company limited by guarantee with number 5857343 and as a charity with number 1115413. For more information, please visit: www.iffim.org
About the World Bank
The World Bank is a global development cooperative owned by 186 member countries. Its purpose is to help its members achieve equitable and sustainable economic growth in their national economies and to find effective solutions to pressing regional and global problems in economic development and environmental sustainability.
The goal is to help overcome poverty and improve standards of living for people worldwide. The International Bank for Reconstruction and Development (IBRD), rated Aaa/AAA (Moody's/S&P), is the oldest and largest entity in the World Bank Group and provides funding, risk management tools and credit enhancement to sovereigns. To fund this activity, IBRD has been issuing debt securities in the international capital markets for 60 years. The IBRD is also the Treasury Manager for the International Finance Facility for Immunisation (IFFIm). In that capacity, the IBRD, as IFFIm's agent, manages IFFIm's finances according to prudent policies and standards. This includes IFFIm's funding strategy and its implementation in the capital markets, rating agency and investor outreach, hedging transactions and investment management. The IBRD also coordinates with IFFIm's donors and manages their pledges and payments as well as IFFIm's disbursements for immunisation and health programmes through the GAVI Alliance. For more information, please visit: www.worldbank.org
The securities referred to in this document have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or under the securities legislation of any state of the United States, and may not be offered or sold in the United States, other than pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. IFFIm does not presently intend to make a public offer of securities in the United States or to register any securities under the Securities Act. The securities referred to in this document will only be offered or sold outside the United States in offshore transactions in reliance on Regulation S under the Securities Act.