ASIATODAY.ID, WASHINGTON – The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) today priced a USD 6 billion benchmark bond that matures in March 2030. The successful USD bond attracted record order volumes from investors around the world against a volatile market backdrop, evidence of the World Bank’s deep access to the capital markets. Investors were attracted by the liquid, high-quality investment that supports the World Bank’s work to end extreme poverty and boost prosperity on a livable planet.
With more than 170 investor orders, the transaction attracted a USD 12.3 billion, high-quality order book primarily driven by bank treasuries, central banks, official institutions, and asset managers.
The lead managers are Barclays, BofA Securities, RBC Capital Markets, and TD Securities. The bond will be listed on the Luxembourg Stock Exchange, pays a semi-annual coupon of 4.125%, offers a spread of 14.7 basis points versus the reference US Treasury.
“This is a tremendous vote of confidence for the World Bank, from our global investor base, “said Jorge Familiar, Vice President and Treasurer, World Bank, March 13, 2025.
“The transaction underscores the World Bank’s deep access to the capital markets and highlights the unparalleled investor following that the World Bank has built up over decades. Especially in times of high market volatility, investors appreciate the excellent credit quality of the World Bank and high liquidity in our bonds.”
Investor Breakdown by Type
Banks/Bank Treasuries/Corporates : 51%
Central Banks/Official Institutions : 27%
Asset Managers/Insurance/Pension Funds : 22%
Investor Breakdown by Geography
Europe/Middle East/Africa (EMEA) : 43%
Americas : 33%
Asia : 14%
Lead Manager Quotes
“Congratulations to the World Bank team for once again delivering a highly successful transaction. The deal affirms IBRD’s leading position in the Sovereign, Supranational and Agency (SSA) market and continuous support from the global investor base for its development mission. Barclays was honored to have been able to support this transaction and the critical work of the World Bank,” said Alex Paterson, Managing Director, Head of SSA Debt Capital Markets (DCM), Barclays.
“Congratulations to the World Bank on a highly successful return to the US dollar benchmark market with a USD 6 billion 5-year Sustainable Development Bond. The size and exceptional quality of the order book amidst a challenging market backdrop is yet again a demonstration of the World Bank’s ability to strategically time its benchmarks to attract its deep and diverse global investor base. BofA is honored to have been involved,” said Kamini Sumra, Managing Director, SSA Origination, BofA Securities.
“This very successful return to the USD benchmark market has clearly demonstrated that there is a large and high-quality global investor base eager to support the World Bank. The transaction benefited from astute market timing and a sophisticated investor relations outreach strategy. RBC is privileged to support the World Bank and this important transaction,” said Jigme Shingsar, Managing Director, SSA Origination, RBC Capital Markets.
“This is an outstanding transaction from the World Bank amidst a busy primary pipeline and elevated market volatility. The diversification and quality of the orderbook demonstrates the pre-eminence of the World Bank among global investors seeking liquid triple-A rated assets”, said Laura O’Connor, Managing Director, Head of UK DCM, TD Securities.
Transaction Summary
5-Year Bond
Issuer: World Bank (International Bank for Reconstruction and Development, IBRD)
Issuer rating: Aaa /AAA
Amount: USD 6 billion
Settlement date: 03/20/2025
Maturity date: 03/20/2030
Issue price: 99.643%
Issue yield: 4.205%, semi-annual
Denomination: USD 1,000
Coupon: 4.125%, payable semi-annually
ISIN: US459058LR21
Listing: Luxembourg Stock Exchange
Clearing system: Fedwire, Clearstream, Euroclear
Lead managers: Barclays Bank PLC, Merrill Lynch International, RBC Capital Markets, LLC, The Toronto-Dominion Bank
Senior co-lead managers: CastleOak Securities, L.P., CIBC World Markets Corp, Daiwa Capital Markets Europe Limited, National Bank of Canada Financial Inc. (AT Network)
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