World Bank prices $3.5bn 5-year benchmark bond

The World Bank has priced a $3.5 billion five-year global benchmark bond that matures on 11 March, 2025. 

The bond pays a semi-annual coupon of 0.75% with an issue price of 99.429% and a final spread of 15.65 basis points over the 1.125% US Treasury due 28 February, 2025 reference bond, offering investors a yield of 0.867%.  

Joint lead managers were HSBC, JP Morgan, Morgan Stanley and Nomura. Senior co-lead managers were BMO, Deutsche Bank and Wells Fargo.

Investor demand led to an orderbook that reached over $4 billion, with over 80 orders from investors, anchored by central banks and bank treasuries.