One of the 25 Most Influential Bond Deals - Euroweek 25 Year Anniversary Edition, May 2012

Slaughter and May advised on the inaugural Uridashi bond issuance to the Japanese retail market in March 2008 by The International Finance Facility for Immunisation Company (IFFIm), which has been named by Euroweek as one of the 25 Most Influential Bond Deals. The ZAR1.7 billion 9.9% two year issuance was arranged by Daiwa Securities and is described as a benchmark issuance which "inspired the Japanese investor base to become the most enthusiastic supporter of socially responsible investments anywhere". (Euroweek 25 Year Anniversary Edition, May 2012 )

IFFIm was initiated in 2006 to rapidly accelerate the availability and predictability of funds for immunisation. IFFIm sells bonds in the capital markets to raise funds for the GAVI Alliance, a public-private partnership which works to save children's lives and protect people's health by increasing access to vaccination in developing countries. The World Bank is IFFIm's treasury manager. IFFIm has been rated Aaa (stable outlook) by Moody's Investor Service, AAA (negative outlook) by Fitch Ratings, and AA+ (negative outlook) by Standard & Poor’s, based on support from its donors, the United Kingdom, France, Italy, Spain, Australia, the Netherlands, Sweden, Norway and South Africa.

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