By Cristal Cody
Tupelo, Miss., Oct. 23 - International Bank for Reconstruction and Development sold C$500 million of 2.125% five-year global bonds at 99.504 to yield 2.232%, according to IBRD and a market source.
The bonds due Oct. 30, 2018 (Aaa/AAA/) priced at a spread of 38.5 basis points over the Government of Canada benchmark.
TD Securities Inc. was the bookrunner.
The bonds were placed with 19 institutional investors, with 41% purchased by banks and corporate investors, 40% purchased by central banks and institutions, 15% purchased by asset managers and 4% purchased by pension funds and insurers, IBRD said in a release.
According to IBRD, investors in Canada bought 41% of the notes, investors in Asia purchased 30% of the issue, investors in Europe bought 19% of the bonds and investors in the Americas bought 10% of the notes.
The Washington, D.C.-based World Bank arm provides loans to developing countries.
| Issuer: | International Bank for Reconstruction and Development
|
| Amount: | C$500 million
|
| Maturity: | Oct. 30, 2018
|
| Securities: | Global bonds
|
| Bookrunner: | TD Securities Inc.
|
| Coupon: | 2.125%
|
| Price: | 99.504
|
| Yield: | 2.232%
|
| Spread: | 38.5 bps over Government of Canada benchmark
|
| Pricing date: | Oct. 21
|
| Settlement date: | Oct. 30
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Distribution: | Asia, Canada, Europe, and North America
|
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