World Bank prices €2bn 30-year sustainable development bond
The World Bank has priced a 30-year euro-denominated benchmark bond maturing in January 2051, raising €2 billion to support the financing of its sustainable development activities.
Credit Agricole CIB, Goldman Sachs International, and Morgan Stanley are the lead managers. The bond will be listed on the Luxemburg Stock Exchange.
The €2 billion bond was oversubscribed, with an orderbook reaching over €4 billion from more than 120 orders. The bond offers investors an issue price of 98.241% and a coupon of 0.125% per annum, equivalent to an annual yield of 0.185%. This equates to a spread versus the reference Bund of +36.7 basis points.
The bonds were placed mostly with investors in Germany and France, with about one third placed with investors in other European countries and the rest of the world. By investor type, the distribution was 85% with asset managers, insurance companies and pension funds, 10% with banks, bank treasuries and corporates, and 5% with central banks and official institutions.
