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BRIDGETOWN, Barbados — A Caribbean Sustainability Bond launched this week is seeking up to US$250 million for climate and development projects across the region, with JMMB Securities preparing an international investor roadshow for late November. The initiative was introduced October 7 at the Caribbean Investment Forum in Barbados, according to the CARICOM Development Fund.
Caribbean Sustainability Investments Limited will issue the bond, with the fund serving as project sponsor and JMMB Securities as lead arranger and broker. The financing is intended to support investments across CARICOM member states and associate members.
The issuer’s website identifies renewable energy, water security, sustainable infrastructure and climate adaptation among eight areas eligible for financing. Other areas include agriculture, marine and coastal resources, environmental protection and social development. Examples listed include solar and wind generation, energy storage, desalination and wastewater treatment.
JMMB aims to complete the fundraising by the end of the first quarter of 2027, the Financial Gleaner reported October 9, citing Karl Townsend, chief country officer for JMMB Group Jamaica’s capital markets unit. The report said final terms remained unsettled and identified development finance institutions, multilateral banks and European impact investors as prospective sources of capital.
“We’ll pound the pavement for as long as it takes to round up the money,” Townsend told the Financial Gleaner. He said the structure would pool projects that might be too small individually to attract major international investors. Two multilateral institutions had been engaged and were providing feedback on the proposed structure and their investment appetite, the newspaper reported.
The Climate Bonds Initiative provided technical assistance in developing the bond framework, according to the CARICOM release. CSIL says the use of proceeds will follow a sustainability framework aligned with International Capital Market Association principles.
CSIL says any investment will be based on final offering documents, with indicative terms subject to change.
