By Marisa Wong and Cristal Cody
Los Angeles, April 4 – International Bank for Reconstruction and Development (World Bank) priced $6 billion of sustainable development bonds in two tranches, according to a market source.
The issuer priced $3 billion of 4.75% bonds due April 10, 2026 at 99.974 to yield 4.764%, or with a spread of SOFR mid-swaps plus 17 basis points, or Treasuries plus 8.5 bps. Guidance had firmed to SOFR mid-swaps plus 18 bps area. Price talk had been in the SOFR mid-swaps plus 19 bps area.
The second tranche consisted of $3 billion of 4.5% bonds due April 10, 2031 at 99.875 to yield 4.521%, or SOFR mid-swaps plus 48 bps, or Treasuries plus 15.3 bps. Guidance was unchanged from talk of SOFR mid-swaps plus 49 bps area.
The order book totaled more than $12.7 billion from 260 accounts.
BofA Securities, HSBC, JPMorgan and Wells Fargo Securities are the bookrunners.
The offering settles on April 10. The bonds will be listed in Luxembourg.
World Bank offers loans to developing countries and is based in Washington, D.C.
| Issuer: | International Bank for Reconstruction and Development (World Bank)
|
| Amount: | $6 billion
|
| Issue: | Sustainable bonds
|
| Bookrunners: | BofA Securities, HSBC, JPMorgan and Wells Fargo Securities
|
| Pricing date: | April 3
|
| Settlement date: | April 10
|
|
|
| 2026 bonds
|
| Amount: | $3 billion
|
| Maturity: | April 10, 2026
|
| Coupon: | 4.75%
|
| Price: | 99.974
|
| Yield: | 4.764%
|
| Spread: | SOFR mid-swaps plus 17 bps, or Treasuries plus 8.5 bps
|
| Price talk: | SOFR mid-swaps plus 19 bps area; guidance firmed to SOFR mid-swaps plus 18 bps area
|
| ISIN: | US459058LE18
|
|
|
| 2031 bonds
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| Amount: | $3 billion
|
| Maturity: | April 10, 2031
|
| Coupon: | 4.5%
|
| Price: | 99.875
|
| Yield: | 4.521%
|
| Spread: | SOFR mid-swaps plus 48 bps, or Treasuries plus 15.3 bps
|
| Price talk: | Guidance unchanged from talk of SOFR mid-swaps plus 49 bps area
|
| ISIN: | US459058LF82
|
|
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