By Cristal Cody
Tupelo, Miss., Aug. 21 – International Bank for Reconstruction and Development, or World Bank, priced $4 billion of five-year fixed-rate notes (Aaa/AAA/AAA) in two tranches on Wednesday, according to a market source.
World Bank sold $3.5 billion of 1.5% notes due Aug. 24, 2024 on top of talk at a spread of mid-swaps plus 13 basis points.
A $500 million tranche of notes due Aug. 28, 2024 priced with a 2.2% coupon. Additional pricing terms were not immediately available.
J.P. Morgan Securities plc, Barclays, Morgan Stanley & Co. International plc and TD Securities (USA) LLC were the bookrunners on the 1.5% notes.
TD Securities was the bookrunner on the 2.2% notes.
The global development financing cooperative is based in Washington, D.C.
| Issuer: | International Bank for Reconstruction and Development
|
| Amount: | $4 billion
|
| Description: | Notes
|
| Trade date: | Aug. 21
|
| Settlement date: | Sept. 21
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Distribution: | Over the counter
|
|
|
| Five-year notes
|
| Amount: | $3.5 billion
|
| Maturity: | Aug. 24, 2024
|
| Bookrunners: | J.P. Morgan Securities plc, Barclays, Morgan Stanley & Co. International plc and TD Securities (USA) LLC
|
| Coupon: | 1.5%
|
| Spread: | Mid-swaps plus 13 bps
|
| Price guidance: | Mid-swaps plus 13 bps area
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | Aug. 28, 2024
|
| Bookrunner: | TD Securities (USA) LLC
|
| Coupon: | 2.2%
|
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