By Cristal Cody
Tupelo, Miss., Jan. 8 – The International Bank for Reconstruction and Development, or World Bank, priced a $3.5 billion offering of 1.625% global notes due Jan. 15, 2025 (Aaa/AAA/AAA) on Wednesday at mid-swaps plus 8 basis points, or a spread of 7.6 bps over Treasuries, according to a market source.
The notes were initially talked to price with a spread in the mid-swaps plus 9 bps area.
BMO Capital Markets Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and TD Securities (USA) LLC were the bookrunners.
The global development financing cooperative is based in Washington, D.C.
| Issuer: | International Bank for Reconstruction and Development
|
| Amount: | $3.5 billion
|
| Description: | Global notes
|
| Maturity: | Jan. 15, 2025
|
| Bookrunners: | BMO Capital Markets Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and TD Securities (USA) LLC
|
| Coupon: | 1.625%
|
| Spread: | Mid-swaps plus 8 bps, or Treasuries plus 7.6 bps
|
| Trade date: | Jan. 8
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Price guidance: | Mid-swaps plus 9 bps area
|
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