World Bank prices $4bn 10-year global bond

The World Bank has priced a $4 billion ten-year global benchmark bond that matures on 14 May, 2030. The benchmark pays a semi-annual coupon of 0.875% and has an issue price of 99.428%. It has a final spread of 31.45bps over the 1.50% US Treasury due 15 February, 2030 reference bond, offering investors a yield of 0.935%. 

Joint lead managers for this transaction are BofA Securities, J.P. Morgan, Nomura and RBC Capital Markets. Senior co-lead managers are BMO Capital Markets, Deutsche Bank, Morgan Stanley, and Wells Fargo.

Strong demand from global investors for the USD benchmark led to an orderbook of $5.6 billion, with over 130 investor orders, anchored by central banks and official institutions.