By Cristal Cody and Devika Patel
Knoxville, Tenn., Oct. 28 – International Bank for Reconstruction and Development, or World Bank, (Aaa/AAA) priced $5 billion of 1.625% 10-year sustainable development bonds on Wednesday to yield mid-swaps plus 7 basis points or Treasuries plus 9.43 bps, according to a market source and a news release.
IBRD held an investor call update on its sustainable development program on Monday.
The notes were initially talked to price in the mid-swaps plus 9 bps area and will yield 1.634%.
BofA Securities Inc., Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and TD Securities (USA) LLC were the bookrunners.
The deal attracted nearly 170 orders and an orderbook reaching over $9.5 billion, the release stated.
The global development financing cooperative is based in Washington, D.C.
| Issuer: | International Bank for Reconstruction and Development
|
| Amount: | $5 billion
|
| Description: | Sustainable development bonds
|
| Maturity: | Nov. 3, 2031
|
| Bookrunners: | BofA Securities Inc., Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and TD Securities (USA) LLC
|
| Coupon: | 1.625%
|
| Price: | 99.917
|
| Yield: | 1.634%
|
| Spread: | Mid-swaps plus 7 bps or Treasuries plus 9.43 bps
|
| Trade date: | Oct. 27
|
| Settlement date: | Nov. 3
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Price guidance: | Mid-swaps plus 9 bps area
|
| ISIN: | US459058KA05
|
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