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 THIS DOCUMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, IN OR INTO, DIRECTLY OR INDIRECTLY, THE UNITED STATES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
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
Summary terms* for the new offering are:
||International Finance Facility for Immunisation Company (IFFIm)
|Currency and amount:
||Brazilian Real (BRL) 371.1 million (USD equivalent 225 million)
||30 March 2011
||24 March 2014
||7.81 % (semi-annual)
* 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).
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).