LUXEMBOURG - CSM Securities Sàrl, a Luxembourg-based financial institution, has announced the launch of a series of bonds under its Medium and Long Term Note Bond Programmes. The bonds, issued on August 1, 2024, are part of the Global Green Asset Finance (GGAF) initiative, aimed at channeling up to €450 million into cleantech and renewable energy businesses globally.
GGAF, an international private climate finance platform, has contracted Jexium Ltd., a green finance consultancy, to manage the program. On November 21, 2024, Jexium Ltd. partnered with a London-based private capital intelligence firm to bolster investor targeting and placement support across the US, Europe, MENA, and Asia regions.
The initiative comes as private investment in sustainability and the energy transition is increasingly viewed as essential to bridge the financing gap identified in a recent Jexium whitepaper on COP29. The paper highlights the shortfall in government-to-government (G2G) financing towards the $1.3 trillion global climate finance target.
GGAF's management team boasts a 40-year track record, having managed investment vehicles totaling over €4.0 billion in various sectors, including climate and development finance. Currently, GGAF has a diversified portfolio and pipeline of more than €160M in financing transactions, supporting projects in areas such as cleantech manufacturing, waste-to-energy, and renewable energy generation.
The bonds, which include notes due in 2029, 2034, and 2039, are designed for professional and accredited investors seeking to combine impact with income. They are structured under Luxembourg's Securitisation Act 2004 and Fiduciary Act 2003 and are registered with the Luxembourg Central Bank. However, these securities will not be registered under the U.S. Securities Act of 1933 and, subject to certain exceptions, will not be offered or sold within the United States or to U.S. persons.
CSM Securities has emphasized that the bonds are available only to professional investors and that the announcement is not an offer of securities in any jurisdiction. Potential investors are advised to base their decisions on the private placement memorandum particulars, which are available upon request. This announcement is based on a press release statement and does not constitute a solicitation or offer to purchase any bonds.
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