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PineBridge Investments has rolled out two social bond-related deals involving its developed markets fixed income team.
The first of the two deals was the $1 billion three-year Global Social Bond issued by the International Finance Corporation on 11 March, a transaction that PineBridge supported to back resilience-building programmes to fight against COVID-19.
This was followed by a second effort on 26 March in which PineBridge supported the $3 billion “COVID-19 Social Bond” issued by the African Development Bank, the first transaction of its kind to be included in the London Stock Exchange Sustainability Index. The proceeds from this bond issuance contribute directly to infrastructure mitigation efforts in the region.