Chicago, Jan. 11 – International Bank for Reconstruction and Development, or World Bank, priced €3 billion of 2.9% sustainable development bonds due 2033 on Wednesday, based on terms provided by a market source.
The bonds priced at 99.914 to yield 2.91%, or at a spread of 11 basis points over mid-swaps. Alternatively, they priced at 71.3 bps to Bunds.
Guidance was for the mid-swaps plus 12 bps area.
BNP Paribas, Deutsche Bank, Natixis and Nomura are the lead managers.
Books closed in excess of €4.3 billion, inclusive of interest from the joint lead managers of €100 million.
Proceeds will be used to support the financing of a combination of green and social projects, programs and activities in World Bank member countries.
The global 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
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| Amount: | €3 billion
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| Issue: | Global sustainable development bonds
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| Maturity: | Jan. 19, 2033
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| Bookrunners: | BNP Paribas, Deutsche Bank, Natixis (billing and delivery) and Nomura
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| Coupon: | 2.9%
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| Price: | 99.914
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| Yield: | 2.91%
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| Spread: | Mid-swaps plus 11 bps
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| Trade date: | Jan. 11
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| Settlement date: | Jan. 19
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| Ratings: | Moody’s: Aaa
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| S&P: AAA
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| Distribution: | SEC-exempt
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| Price talk: | Mid-swaps plus 12 bps area
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| ISIN: | XS2577109049
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