The Pilot Auction Facility is pleased to announce the following anticipated parameters in conjunction with its fourth auction:
- The auction will be a reverse auction in which the premium will be fixed and bidders will bid down on the strike price.
- The premium will be fixed at $0.30/ton
- The refundable Bid Deposit will be fixed at $0.30/ton
- The auction budget is expected to be at least $6 million
- Winners will be required to purchase one series of put options, redeemable once in November 2021 (see eligibility criteria)
- To become qualified to bid, firms will undergo an Integrity Due Diligence screening and pay the refundable deposit
- The auction clearing strike price and the auction winners will be made public on the PAF webpage
To be announced at a later stage:
- The minimum bid
- The maximum bid
- The auction date
Once available the PAFERNs draft final terms and Bidder Application Package can be requested by sending an e-mail to PAF_Secretariat@worldbank.org with the disclaimer language cut and pasted from this webpage (To be published once the Bidder Application Package becomes available).