New Issue: World Bank prices $4 billion of 2.125% three-year notes at mid-swaps plus 2 bps

By Cristal Cody

Tupelo, Miss., May 21 – International Bank for Reconstruction and Development, or World Bank, priced $4 billion of 2.125% global notes due July 1, 2022 (Aaa/AAA/AAA) on Tuesday at mid-swaps plus 2 basis points, or a Treasuries plus 5.3 bps spread, according to a market source.

The notes were initially talked to price with a spread in the mid-swaps plus 3 bps area.

BMO Capital Markets Corp., Citigroup Global Markets Ltd., Deutsche Bank Securities Inc. and Nomura Securities International, plc were the bookrunners.

The global development financing cooperative is based in Washington, D.C.

Issuer:	International Bank for Reconstruction and Development
Amount:	$4 billion
Description:	Global notes
Maturity:	July 1, 2022
Bookrunners:	BMO Capital Markets Corp., Citigroup Global Markets Ltd., Deutsche Bank Securities Inc. and Nomura Securities International, plc
Coupon:	2.125%
Spread:	Mid-swaps plus 2 bps, or Treasuries plus 5.3 bps
Trade date:	May 21
Ratings:	Moody’s: Aaa
	S&P: AAA
	Fitch: AAA
Distribution:	SEC exempt
Price guidance:	Mid-swaps plus 3 bps area

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