Teachers Mutual Bank Limited $500m Debt Issuance Programme – Information Memorandum dated 26 November 2018

Product Name

Teachers Mutual Bank Limited $500m Debt Issuance Programme – Information Memorandum dated 26 November 2018

Issuer

Teachers Mutual Bank Ltd

Category

Banking

Type

Banking

Target

Wholesale

Certified Since

2018

Asset Classes

Cash

Markets

Australia

Investment Approaches

Negative Screening, Minimum-standards (norms-based) screening

It Includes:

  • No inclusions5 No inclusions

It fully excludes:

  • Riaa icons 41 Alcohol
  • Riaa icons 36 Armaments
  • Riaa icons 33 Fossil fuels
  • Riaa icons 42 Gambling
  • Riaa icons 34 Logging
  • Riaa icons 50 Nuclear power
  • Riaa icons 99 Pornography
  • Riaa icons 35 Tobacco

Overview

The Ethical Investment Certification is for an additional $500m, the second part of Teachers Mutual Bank Limited’s $1 billion Debt Issuance Programme (DIP) for wholesale investors which was recently increased in size. The first part of $500m was previously Certified Ethical in 2015 and is listed as a separate product. Certification of this second $500m is based on 14 ethical lending exclusions. Under the second $500m of the $1 billion DIP, the Bank may issue debt securities that are issued in series, and each series may compromise one or more tranches; these may vary in number, timing and tenor. By certifying the DIP, each individual issuance of notes or tranches is certified.


Description


Certification of this second $500m is based on 14 ethical lending exclusions – various lending opportunities are disqualified from the bank’s lending origination business. Such exclusions are where the primary purpose of the entity or business is ‘alcohol, armaments, correctional facilities, cryptocurrency, deforestation or gross environmental degradation, gambling, military activities, political activities, pornography, slavery, tobacco or uranium’.

Fossil fuel and climate change exclusions – various lending opportunities are disqualified from the bank’s lending origination business. Such exclusions are where:
the purpose would be to finance large scale greenhouse gas pollution from fossil fuel exploration, extraction, production and use; or
the purpose would be to directly lend to, buy equity or debt in any large-scale greenhouse polluting activities from fossil fuel exploration, extraction, production and use.
The Bank will not directly invest in any large-scale greenhouse gas polluting (i.e. fossil fuel exploration, extraction, production and use) activities or companies.


Other products certified by the Responsible Investment Association Australasia (RIAA)

Teachers Mutual Bank Limited $500m Debt Issuance Programme - Information Memorandum dated 29 September 2014

Wholesale Short Term Deposits (STDs)

Teachers Mutual Bank Ltd Deposit products

Teachers Mutual Bank Ltd Mortgage products

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