First sovereign gender bond issued by Iceland

The Republic of Iceland has issued a gender bond in the amount of 50 million Euros, the equivalent of ISK 7.5 billion. The bond bears a 3.4% fixed rate coupon and has a 3-year maturity. The bonds are issued off an Annex to Iceland´s Sustainable Financing Framework on Financing for Gender Equality and are the first of its kind for this type of issuer as no sovereign has previously issued labelled gender bonds. The transaction was a private placement issued to Franklin Templeton, solely arranged by BNP Paribas.

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