Auction 3 (January 2017) -- Optional redemption 1 (November 29, 2017)


Winners in the third auction of the Pilot Auction Facility took hold of a puttable bond (PAFERNs) which can be redeemed in part or in full a 3 optional redemption dates and a maturity date This timileine and Q&A highlight the steps necessary to exercise an optional redemption in 2017

Timeline

Sep. 1, 2017 Sep. 25, 2017 Oct. 17, 2017 Nov. 7, 2017 Nov. 14, 2017 Nov. 29, 2017
First day for Noteholders to deliver a Final Redemption Notice and definitive registered Certificate, including identification of Carbon Credits for the First Check. Notes can no longer be transferred  on or after this date. Deadline for Noteholders to deliver (i) a Final Redemption Notice and definitive registered Certificate, including identification of Carbon Credits for the First Check; and (ii) the EHS Audit Report(s) to the Verification Agent. Deadline for Verification Agent to qualify Carbon Credits at First Check and send confirmation to Noteholder. Deadline for Noteholders to transfer Qualifying Carbon Credits from an Eligible Account from First Check to specified Verification Agent’s Carbon Credit Account Deadline for Verification Agent to qualify Carbon Credits at Second Check and send confirmation to the Global Agent, the Calculation Agent and the Bank. Maturity Date

Q&A

DISCLAIMER:  This Q&A has been prepared by the PAF Secretariat to assist Noteholders in locating in the Final Terms relevant information about the PAFERNs redemption process.  The Final Terms remains the definitive binding document on Noteholders and the Issuer. The Final Terms can be found on this webpage: https://radprod.worldbank.org/paf/content/third-auction-paferns

  1. Can you please clarify the eligible monitoring period dates, issuance dates, deadline for the Final Redemption Notice, and Maturity date? 
    The information can be found in section “Eligible Generation / Issuance Period” of this webpage: https://radprod.worldbank.org/paf/content/third-auction-eligibility-crit...