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Information for Investors

NADB leverages its funds by issuing debt in international capital markets or with other financial institutions for the purpose of financing its lending operations or refinancing existing borrowings. Its financial strength is based on its strong liquidity policy, prudent risk management and rigorous lending and oversight processes.

Credit Rating

Fitch Ratings 

AA/F1+ / stable

Credit Report

Moody's Investors Service 

Aa1/Prime-1 / negative

Credit Report

Green Bonds

Since 2018, NADB has issued three green bonds totaling US$478 million that have supported 12 projects to date. All infrastructure projects financed with the proceeds of the green bonds are consistent with the NADB Green Bond Framework, which was first developed in 2018 and updated in 2020. The framework is consistent with the rules established in the Green Bond Principles by the International Capital Market Association and received a positive second party opinion. Further details on the NADB Green Bond Program can be found in the NADB Green Bond Reports 2018 and 2020.

The first green bond issued by NADB in July 2018 was a CHF 125 million bond maturing in 2026. All of the net proceeds, equivalent to US$126 million were allocated to six renewable energy projects in 2018. 

NADB has issued two additional green bonds: a CHF 180 million bond maturing in 2028 and a CHF 160 million bond maturing in 2033, equivalent to US$186 and US$166 million. Both were issued in 2020, and their proceeds are currently being allocated. As of December 2020, US$185 million from these two issues have been allocated to 11 projects. 

Green Bond Program Allocation Summary

Green Bond Issue

% Allocated

No. of Projects Supported

Greenhouse Emissions Avoided
(CO2 tons/year)

CHF 125M maturing 2026

100

6

1,580,609

CHF 180M maturing 2028

92

7

1,378,211

CHF 160M maturing 2033

13

4

819

Total*

 

12

 

* Five of the 12 projects have received allocations from more than one bond.

Renewable energy made up the largest portion of the green bond eligible projects—about 92% of the proceeds allocated to date. This allocation is consistent with the expertise the Bank has developed in renewable energy projects in recent years. Water projects are the second largest portion, in line with the historical priorities of the Bank.

Allocation by Sector
(USD Million, as of December 2020)

 

Renewable Energy

Sustainable Water & Wastewater Management

Energy Efficiency

Pollution Prevention and Control

Total Allocation

CHF 125M maturing 2026

$          126

$                  –

$            –

$              –

$        126

CHF 180M maturing 2028

160

11

172

CHF 160M maturing 2033

6

5

3

13

Total

$          286

$                17

$            5

$              3

$        311

 

Project Evaluation and Selection

The NADB Green Bond Framework identifies eligible projects that may be financed with the proceeds of green bonds. These projects fall into one of four sectors: 

Sustainable Water & Wastewater Management

Pollution Prevention and Control

Renewable Energy

Energy Efficiency

  • Improvements to water distribution systems including leak elimination
  • Wastewater collection, treatment and reuse
  • Water conservation
  • Storm drainage & flood control
  • Industrial emission reduction (excludes investments in fossil fuel-powered equipment)
  •  Waste treatment  disposal
  •  Site remediation
  • Wind
  • Utility-scale solar
  • Distributed solar
  • Municipal and commercial building upgrades
  • Industrial equipment retrofits (excludes investments in fossil fuel-powered equipment)
  •  Efficiency upgrades

All projects selected for financing must be certified by the NADB Board of Directors based on technical, financial and environmental criteria, as well as ensure public access to information. As part of the environmental criteria, the projects must demonstrate not only compliance with applicable environmental regulations and clearance processes but must also demonstrate a positive impact on the environment.

Use of proceeds

Green Bond Maturing 2026
CHF125 million, equivalent to US$126 million

Proceeds from this bond issued in July 2018 were fully allocated in 2018.

Summary of Allocation of Proceeds and Anticipated Impact

Project

Sector

State, Country

Expected Impacts1

GHG emissions avoided2
(CO2 tons / year)

Allocation to Bond

(USD Million)

Share of Bond

(%)

Bond Share of Project Costs

(%)

EDPR Wind Farm

Renewable energy

Coah., Mexico

381,424

$          53

42

16

Puerto Libertad Solar Park

Renewable energy

Son., Mexico

440,390

34

27

9

El Mezquite Wind Farm

Renewable energy

N.L., Mexico

428,787

17

14

5

Santa Maria Solar Park

Renewable energy

Chih., Mexico

161,881

10

8

7

Orejana Solar Park

Renewable energy

Son., Mexico

163,808

8

7

7

SEPV Imperial Solar Park

Renewable energy

CA, USA

4,319

3

2

18

Total

 

 

1,580,609

$        126

100

 

1 Expected impact of entire project.
2 Targets from the respective project certification and financing proposal. 
CO2– Carbon dioxide in tons per year, GHG – Greenhouse gases.

Green Bond maturing 2028
CHF180 million, equivalent to US$186 million

Proceeds from this bond issued in May 2020 are still being allocated.  As of December 2020, US$172 million of the proceeds had been allocated to seven projects, including committed amounts that are still being disbursed. Some of the projects also received allocations from the 2026 bond. 

Allocation to Date and Anticipated Impact

Project

Sector

State, Country

Expected Impacts1

Allocation to Bond

(USD Million)

Share of Bond

(%)

Bond Share of Project Costs

(%)

GHG Emissions Avoided2 (CO2 tons/year)

Wastewater Treatment Capacity2 (lps)

Wastewater Serviced Population2

Don Diego Solar Park

Renewable energy

Son., Mexico

169,443

 

 

$        100

54

77

El Mezquite Wind Energy

Renewable energy

N.L.., Mexico

428,787

 

 

21

11

7

Santa Maria Solar Park

Renewable energy

Chih., Mexico

161,881

 

 

17

9

12

Orejana Solar Park

Renewable energy

Son., Mexico

163,808

 

 

16

8

13

Chihuahua WWTPs

Wastewater treatment

Chih., Mexico

9,583

2,375

809,232

11

6

76

SEPV Imperial Solar Park

Renewable energy

CA, USA

4,319

 

 

5

3

30

Puerto Libertad Solar Park

Renewable energy

Son., Mexico

440,390

 

 

1

1

 

Total

 

 

1,378,211

2,375

809,232

$       172

92

 

Pending allocation

$          14

8

 

                   

1 Expected impact of entire project. 
2 Targets from respective project certification and financing proposal. 
CO2– Carbon dioxide in tons per year, GHG – Greenhouse gases, lps – Liters per second, WWTPs – Wastewater treatment plants

Green Bond Maturing 2033
CHF 160 million, equivalent to US$166 million

Proceeds from this bond issued in May 2020 are still in the process of being allocated.  As of December 2020, US$13 million from this issue had been allocated to four projects, including committed amounts that are still being disbursed.

Allocation to Date and Anticipated Impact

Project

Sector

State, Country

Expected Impacts1

Allocation to Bond

(USD Million)

Share of Bond

(%)

Bond Share of Project Costs

(%)

GHG Emissions Avoided2
(CO2 tons/year)

Water Treatment Capacity2 (lps)

Water Serviced Population2

Solid Waste Management Capacity2 (tons/day)

EsVolta

Energy storage

CA, USA

819

 

 

 

$            5

3

63

Jim Hogg County

Drinking water

TX, USA

 

44

4,558

 

4

2

94

Maverick County

Solid waste

TX, USA

 

 

 

130

3

2

73

Presidio

Drinking water

TX, USA

 

 

4,000

 

2

1

33

Total

 

 

819

44

8,558

130

$         13

8

 

Pending allocation

$        153

92

 

1 Expected impact of entire project.
2 Targets from the respective project certification and financing proposal.
CO2 – Carbon dioxide in tons per year; GHG – Greenhouse gases; lps – Liters per second