TMB Mutual Debt Issuance Program

Product Name

TMB Mutual Debt Issuance Program

Issuer

Teachers Mutual Bank

Category

Banking product

Type

Banking

Target

Wholesale

Certified Since

2015

Certification Symbol

Ethical

Asset Classes

Cash

Markets

Australia

Investment Approaches

Negative Screening, Other

It Includes

  • Default selected inclusion No specific inclusions

It Excludes

  • Riaa icons 33 Fossil fuels

Overview

Teachers Mutual Bank is Australia’s leading mutual bank servicing the education sector. As one of the country’s largest mutual banks, it has 162,000 members nationwide and an asset base approaching $5 billion. Teachers Mutual Bank operates on three core values; advocacy, passion and sustainability. Teachers Mutual Bank’s $500 million Debt Issuance Programme has been certified by the RIAA on the basis that Teachers Mutual Banks’ Policy is ‘the exclusion of lending to, or investing in, large scale greenhouse gas pollution from fossil fuel exploration, extraction, production and use’.


Description


The RIAA certification is of Teachers Mutual Banks’ $500m Debt Issuance Programme (DIP) for wholesale investors. The cash proceeds raised are used to fund Teachers Mutual Banks’ balance sheet. 

Under the $500m Debt Issuance Programme, Teachers Mutual 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 $500 million Debt Issuance Programme, each individual issuance of notes or tranches is certified.

Other products certified by this organisation