If you are an interested bidder and have a question that is not addressed below or in other sections of the PAF website, please e-mail it to PAF_Secretariat@worldbank.org and it will be added here.
This page is for information only. Please see the disclaimer.
|E. Timeline and deadlines|
|Question E.1||What will be the timeline leading to the auction? Will there be training for the bidders?|
|The timeline leading to the auction has been published on the auction page.Training will be provided to interested parties ahead of the auction.|
|Question E.2||When is the PAF’s first auction and when will materials be released on eligibility?|
|The first auction will take place on July 15, 2015. The Bidder Application Package contains all materials on eligibility including the Draft Final Terms. The Package can be received by sending an e-mail to the PAF_Secretariat@worldbank.org. The email must contain disclaimer language cut and pasted from this webpage.|
|Question E.3||I understand this will be a live auction. So for some participants the auction will take place at night?|
|Correct. However for bidders that do not want to participate in real-time there will be an option for bidders to submit to the auction manager their bidding orders ahead of time in a confidential and secure way.|
|Question E.4||Will some training be provided before the auction? Will there be a practice website and a dry run?|
|A mock auction will be organized prior to the auction date of July 15, 2015. Information related to the mock auction and training materials will be provided to interested parties that submit an application to qualify to participate in the PAF Auction.|
|Question E.5||Do the IDD questionnaire and the Schedule 1 of the Bidder Application package need to be signed and scanned, or can they be sent by e-mail?|
|The IDD questionnaire (Annex 1 to the Bidder Application Package) and Schedule 1 to the Participation Agreement (Annex 2 to the Bidder Application Package) do not need to be signed and can be sent in PDF or MS Word by e-mail to PAF_Secretariat@worldbank.org.|
|Question E.6||The Participation Agreement is the only document of the Bidder Application Package that needs to be signed, correct?|
|Correct, the Participation Agreement (Annex 2 to the Bidder Application Package) must be signed but not dated, scanned and sent by e-mail along with the IDD questionnaire and Schedule 1 to PAF_Secretariat@worldbank.org.|
THE FOLLOWING IS A SUMMARY OF THE WORLD BANK’S PROPOSED PLAN TO ISSUE PILOT AUCTION FACILITY EMISSION REDUCTIONS NOTES (“PAFERNS”). IT IS NOT AN OFFER TO SELL PAFERNS OR AN INVITATION TO OFFER TO BUY PAFERNS. THIS SUMMARY IS SEPARATE FROM, AND SHOULD NOT BE READ IN COMBINATION WITH, ANY FUTURE OFFER OR SALE OF PAFERNS, WHICH WILL BE MADE IN COMPLIANCE WITH APPLICABLE LAWS AND UNDER ENTIRELY SEPARATE LEGAL DOCUMENTATION AND OFFERING MATERIALS. THIS SUMMARY IS VERY HIGH LEVEL FOR SIMPLICITY AND LEAVES OUT MATERIAL INFORMATION AND THE LEGAL DOCUMENTATION THAT IS EXPECTED TO GOVERN THE PAFERNS. FURTHER, IT IS CURRENT ONLY AS OF THE DATE OF POSTING TO THIS WEBSITE AND IS LIKELY TO BECOME OUTDATED AS THE PAFERNS LEGAL DOCUMENTATION IS DEVELOPED. THE STRUCTURE, TIMING AND MECHANICS OF THE ACTUAL PAFERNS, IF AND WHEN THEY ARE ISSUED, ARE SUBJECT TO CHANGE. POTENTIAL INVESTORS MUST OBTAIN A COPY OF THE COMPLETE LEGAL DOCUMENTATION PURSUANT TO WHICH THE PAFERNS WILL BE ISSUED, INCLUDING THE WORLD BANK’S MAY 2008 PROSPECTUS RELATING TO ITS GLOBAL DEBT ISSUANCE FACILITY AND THE FINAL TERMS FOR ANY ISSUANCE OF PAFERNS. POTENTIAL INVESTORS SHOULD NOT RELY ON THIS SUMMARY. BEFORE MAKING ANY INVESTMENT DECISION, POTENTIAL INVESTORS MUST REVIEW THE COMPLETE LEGAL DOCUMENTATION (ONCE AVAILABLE).
Last update -- June 9, 2015