Vaccine bond sales to soar to fund Covid-19 shots for poor countries

Socially conscious bond investors will be targeted in a coming wave of vaccine bond deals that will seek to provide billions of dollars for the speedy rollout of Covid-19 shots for developing countries. Dedicated vaccine bonds have been deployed before, but the immediate Covid-19 funding needs should lead to large amounts of new issuance in 2021.

“There is no doubt that investors value the Social label on public sector debt issuance and vaccination is the ultimate social project,” said Philip Brown, Citi's head of sustainable debt capital markets, who helped to sell a vaccine bond in October.

“This is going to be