By Marisa Wong
Madison, Wis., April 5 - The World Bank said it launched a Rs. 2 billion three-year fixed-rate note on Tuesday.
The note, which priced at 99.9635, matures on April 2, 2015 and carries a coupon of 5%. Interest is payable annually.
The note is denominated in Indian rupees, but payments will be made in dollars.
According to a news release, the lead order for the note was from Nikko Asset Management Co., Ltd. on behalf of the World Supporter Fund. The fund is comprised principally of World Bank bonds in a variety of emerging market currencies and is managed by Nikko.
TD Securities is the lead manager for the offering, which will settle on April 16.
The international financial institution aids developing countries and is based in Washington, D.C.
| Issuer: | World Bank
|
| Issue: | Fixed-rate note
|
| Amount: | Rs. 2 billion
|
| Maturity: | April 2, 2015
|
| Lead manager: | TD Securities
|
| Coupon: | 5%, payable annually
|
| Price: | 99.9635
|
| Pricing date: | April 3
|
| Settlement date: | April 16
|
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