Citi was joint bookrunner on the Rhino Bond, lead manager on two later World Bank outcome bonds, and counterparty to the R1.6 billion facility that funded IFC’s anchor stake in the Cape Water bond [IC].
Right of reply
This page describes Citi only through its published statements and the public records of the deals listed. Citi has not yet been invited to comment. Responses and corrections will be recorded here with their date. On register pages, [MS] marks a claim that rests only on the institution’s own statement or on statements by parties to the same deal.
In the register
The register follows instruments whose terms depend on a verified ecological outcome, the broad family of the performance-based bond. The register index explains its tiers, roles and claim tags.
| Deal | Year | Family | Role | Amount | Claim |
|---|---|---|---|---|---|
| World Bank Wildlife Conservation Bond (Rhino Bond) | 2022 | Outcome-linked bond | Joint bookrunner | US$150m issue | [MS] |
| Cape Water Performance-Based Bond (FR31PB) | 2026 | Outcome-linked bond | Counterparty to IFC’s rand funding facility | R1.6bn facility | [IC] |
| World Bank Plastic Waste Reduction-Linked Bond | 2024 | Adjacent | Lead manager, hedge counterparty | US$100m issue | [IC] |
| World Bank Emission Reduction-Linked Bond (Vietnam) | 2023 | Outside scope | Lead manager | US$50m issue | [IC] |
Citi links the World Bank outcome bonds with the Cape Water bond, which share no bondholders. American Banker reported in 2023 that Citi was looking at the debt-swap business that Credit Suisse had led [MS].
Related
- Nature Performance Bond Investor Register
- International Finance Corporation
- World Bank Treasury (IBRD)
- Credit Suisse
References
- World Bank, “Investors join landmark Wildlife Conservation Bond” (31 March 2022)
- World Bank, “World Bank Group’s IFC and Citi Sign Borrowing Facility to Expand Local Currency Financing in South Africa” (14 April 2026)
- Citi, IBRD Plastic Waste Reduction-Linked Bond case study
- World Bank, Emission Reduction-Linked Bond (14 February 2023)
- American Banker, Citi eyes debt swaps once dominated by Credit Suisse
Provenance
Drafted on 15 October 2026 from the research brief Nature performance bond investors.md, compiled the same day from five research strands: outcome-linked and sustainability-linked bonds, environmental impact bonds, debt-for-nature conversions, insurers and reinsurers, and the largest asset managers with their regulatory context. Claim tags follow the brief, which never upgraded a claim without a source and lowered to [MS] any claim a research note had graded [IC] on the strength of a company’s own release. The headquarters country in based_in comes from general knowledge unless a deal record states it, and is to be confirmed. The brief’s search had limits: fund holdings filings, municipal bond disclosures and the Oxford INDIGO and Brookings impact bond databases were not searched, so a deal missing from this page may exist.