By Cristal Cody
Tupelo, Miss., Aug. 14 – The International Bank for Reconstruction and Development, or World Bank, priced $1 billion of global floating-rate notes due Aug. 21, 2020 (Aaa/AAA/AAA) on Tuesday at the Secured Overnight Financing Rate plus 22 basis points, according to a market source.
The notes were initially talked to price with a spread in the SOFR plus 23 bps area.
Citigroup Global Markets Inc. 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: | $1 billion
|
| Description: | Global floating-rate notes
|
| Maturity: | Aug. 21, 2020
|
| Bookrunners: | Citigroup Global Markets Inc. and TD Securities (USA) LLC
|
| Coupon: | SOFR plus 22 bps
|
| Trade date: | Aug. 14
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Price guidance: | SOFR plus 23 bps area
|
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