World Bank prices new $3.5bn 5-year benchmark

The World Bank (International Bank for Reconstruction and Development) has priced a new $3.5 billion five-year global benchmark bond that matures on 15 January, 2025. 

BMO Capital Markets, Citi, J.P. Morgan and TD Securities are the joint lead managers for the transaction. 

The benchmark was priced with a final spread of 7.57 basis points over the 1.75% UST due 31 December, 2024 reference bond, offering investors a yield of 1.723% (semi-annual).  

Strong global investor demand led to an orderbook that reached $4.8 billion, with over 110 orders from investors around the world participating in the transaction. 

Investor distribution by region was 40% Europe and Middle East, 31% Asia, and 29% Americas.