World Bank prices $1bn tap of August 2024 SOFR-inked bond

Region:

Americas

The World Bank has raised an additional $1 billion for its August 2024 bond referencing the Secured Overnight Financing Rate (SOFR), bringing the new outstanding amount to $1.5 billion.

The bond matures on 6 August, 2024 and has a re-offer spread of Compounded Daily SOFR +28 basis points (resetting daily and paid quarterly). BMO Capital Markets, BofA Securities, RBC Capital Markets were the joint lead managers of the transaction.

The first tranche of this SOFR transaction was issued in July 2019 and remains the market’s longest ever bond referencing the SOFR.

Investor distribution by region was Europe 56%, Americas 42%, Asia 2%.

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