IFFIm issues first vaccine bonds of 2011

Restricted Access Library

The material in this Restricted Access Library is intended to be accessed only by persons with residence within the territory of a Member State of the European Union and is not intended to be viewed by any other persons. The material in this Restricted Access Library is provided by IFFIm for information purposes only and the materials contained herein were accurate only as of their respective dates. Certain information in the materials contained herein is not intended to be, and is not, current. IFFIm accepts no obligation to update any material contained herein.

Persons with residence outside the territory of a Member State of the European Union who have access to or consult any materials posted in this Restricted Access Library should refrain from any action in respect of the securities referred to in such materials and are otherwise required to comply with all applicable laws and regulations in their country of residence.

The materials in this Restricted Access Library are for distribution only to persons who are not a "retail client" within the meaning of section 761G of the Corporations Act 2001 of Australia and are also sophisticated investors, professional investors or other investors in respect of whom disclosure is not required under Part 6D.2 of the Corporations Act 2001 of Australia and, in all cases, in such circumstances as may be permitted by applicable law in any jurisdiction in which an investor may be located.

The materials in this Restricted Access Library and any documents linked from it are not for access or distribution in any jurisdiction where such access or distribution would be illegal. All of the securities referred to in this Restricted Access Library and in the linked documents have been sold and delivered. The information contained herein and therein does not constitute an offer for sale in the United States or in any other country. The securities described herein and therein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable state securities laws.

Each person accessing the Restricted Access Library confirms that they are a person who is entitled to do so under all applicable laws, regulations and directives in all applicable jurisdictions. Neither IFFIm nor any of their directors, employees, agents or advisers accepts any liability whatsoever for any loss (including, without limitation, any liability arising from any fault or negligence on the part of IFFIm or its respective directors, employees, agents or advisers) arising from access to Restricted Access Library by any person not entitled to do so.

Daiwa Securities Group, the International Finance Facility for Immunisation Company ("IFFIm"), the GAVI Alliance, and the World Bank announce IFFIm's first issue of "Vaccine Bonds" for 2011

THIS DOCUMENT IS NOT AN OFFER FOR THE SALE OF SECURITIES. THIS DOCUMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, IN OR INTO, DIRECTLY OR INDIRECTLY, THE UNITED STATES

Daiwa Securities Group Inc

Daiwa Securities Group Inc

Tokyo, 9 March 2011 - Daiwa Securities Group, the International Finance Facility for Immunisation Company ("IFFIm"), the GAVI Alliance, and the World Bank announced today, IFFIm's first issue of "Vaccine Bonds" for 2011.

This is the fourth issue of IFFIm's vaccine bonds arranged by Daiwa. Including previous, highly successful issues in March 2008, February 2009 and March 2010, the total amount of IFFIm's vaccine bonds arranged by Daiwa is now over USD 1 billion equivalent.

"This transaction marks another milestone in our successful partnership with Daiwa," said Alan Gillespie, the Chairman of the IFFIm Board.

"Daiwa's work in placing over USD 1 billion equivalent of IFFIm's bonds is having a meaningful impact in furthering IFFIm's life-saving work through the GAVI Alliance."

This issue will be arranged by Daiwa Securities Capital Markets Co. Ltd., the wholesale securities firm under the Daiwa Securities Group, and distributed by Daiwa Securities Co. Ltd., the Group's retail securities firm, to Japanese retail and institutional investors.

This offering demonstrates Japanese retail investors' continued support for IFFIm and its life-saving purpose. IFFIm raises funds in the international capital markets that are used by the GAVI Alliance to save children's lives and protect people's health by increasing access to immunisation in developing countries.

The World Bank acts as Treasury Manager for IFFIm.

Summary terms* for the new offering are:

Issuer: International Finance Facility for Immunisation Company (IFFIm)
Currency and amount: Brazilian Real (BRL) 371.1 million (USD equivalent 225 million)
Settlement date: 30 March 2011
Maturity date: 24 March 2014
Listing: Luxembourg
Denomination: BRL 10,000
Coupon: 7.81 % (semi-annual)
ISIN: XS0599902250

* Details of the terms and conditions will be available in the pricing supplement that is to be read in conjunction with IFFIm's most recent base prospectus describing IFFIm's Global Debt Issuance Programme. This offering of IFFIm's vaccine bonds is one of the examples of Daiwa's Impact Investment initiative. Under this initiative, Daiwa Securities Group actively pursues its commitment to social responsibility by seeking to provide and expand investment products with social impact while attaining suitable financial returns.

About the GAVI Alliance

The GAVI Alliance is a public-private partnership that aims to immunise children and strengthen health systems in the world's poorest countries. It brings together developing country and donor governments, the World Health Organization, UNICEF, the World Bank, the vaccine industry in both industrialised and developing countries, research and technical agencies, NGOs, the Bill & Melinda Gates Foundation and private philanthropists. GAVI provides vaccines against diphtheria, tetanus, pertussis combined with haemophilus influenzae type b and hepatitis B as so-called pentavalent (five antigens in one vaccine) as well as vaccines against measles, yellow fever, pneumococcal diseases (pneumonia and meningitis) and rotavirus (diarrhoea).

About IFFIm

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 Immunisation) 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, South Africa, Spain, Sweden and the UK), on the basis of which IFFIm's is rated AAA/Aaa/AAA (Fitch/Moody's/S&P). The World Bank is the Treasury Manager for IFFIm. 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.

About the World Bank

The World Bank is a global development cooperative owned by 187 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 World Bank is also the Treasury Manager for IFFIm. In that capacity, the World Bank, 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 World Bank 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.

About Daiwa Securities Group

Founded in 1902, the Daiwa Securities Group is one of the largest independent and comprehensive securities groups in Japan. Through its global network, the Group provides a broad range of financial services to our clients worldwide, including wealth management and support for corporate activities, and thus contributing to the development of our society and economy. The core business areas include brokerage, development and distribution of financial products including equity, bond and derivatives, underwriting of equity, bond and other securities, M&A advisory, asset management, and principal investment. The Daiwa Securities Group has its operational base around the world, including Japan, the U.S., Europe, and Asia Oceania. A total of 16,000 employees work for the Group companies worldwide, and the customer assets under custody totals JPY42 trillion and a combined asset under management of two asset management companies is JPY13 trillion. Daiwa Securities Co. Ltd., the retail arm of the Group, has 120 sales branches and 3.4 million customer accounts. Daiwa Securities Capital Markets, the wholesale arm, has 30 operational base across 21 countries and regions (all figures are as of the end of September 2010).

close icon

modal window here