World Bank Prices USD 500 Million SOFR-Linked Floating Rate Bond
WASHINGTON – The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) today priced a USD 500 million Sustainable Development Bond linked to the Secured Overnight Financing Rate (SOFR) maturing on October 4, 2030.
The 7-year SOFR-index linked note pays a coupon of Compounded SOFR + 46 basis points. The lead managers for the transaction are BMO Capital Markets, National Bank of Canada Financial, and HSBC. The bond will be listed on the Luxembourg Stock Exchange.
Investor Distribution
| By Investor Type | By Region | ||
| Banks/Bank Treasuries/Corporates | 85% | Europe/Middle East/Africa | 56% |
| Asset Managers/Insurance/Pension Funds | 15% | Americas | 44% |
Transaction Summary
| Issuer: | World Bank (International Bank for Reconstruction and Development) |
| Issuer rating: | Aaa / AAA (Moody’s/S&P) |
| Amount: | USD 500,000,000 |
| Settlement date: | October 4, 2023 |
| Maturity date: | October 4, 2030 |
| Coupon: | Compounded SOFR + 46 bps |
| Coupon payment dates: | October 4, January 4, April 4, July 4. |
| Issue Price: | 100.00% |
| Denomination: | USD 1,000 |
| ISIN: | US459058KX08 |
| Clearing systems: | Fedwire, Euroclear, Clearstream |
| Listing | Luxembourg Stock Exchange |
| Joint lead managers: | BMO Capital Markets, National Bank of Canada Financial, and HSBC |