The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) today priced its first USD benchmark issue for its new fiscal year, with a USD 3.5 billion 5-year global benchmarks due August 28, 2024. There were orders for over USD 4.6 billion from over 90 investors from more than 20 countries. The order book was anchored by bank treasuries and central banks from 21 countries. Other investors included official institutions, corporates, asset managers, as well as pension and insurance funds.
Joint lead managers for this global bond are Barclays, J.P. Morgan, Morgan Stanley, and TD Securities.
The 5-year benchmark has a semi-annual coupon of 1.5% per annum and a maturity date of August 28, 2024. It offers investors a yield of 1.526%, equivalent to 7.9 basis points over the 1.75% UST due July 31, 2024.
"This is the World Bank's first USD global transaction of the fiscal year. We are very pleased to offer investors a safe and liquid product that enables them to achieve a positive social and development impact with their investment. We are delighted with the results and appreciate the support from investors and our financial partners for the World Bank's sustainable development mandate", said Andrea Dore, World Bank Head of Funding.