According to the World Bank, this Sustainable Development Bond aims to generate GBP 1.5 billion from investors, contributing to the financing of the World Bank’s initiatives for sustainable development solutions in its member countries
London:
The World Bank, represented by the International Bank for Reconstruction and Development (IBRD), has successfully priced a 5-year Great British Pound sterling (GBP) benchmark bond due October 2028.
According to the World Bank, this Sustainable Development Bond aims to generate GBP 1.5 billion from investors, contributing to the financing of the World Bank’s initiatives for sustainable development solutions in its member countries.
The bond, featuring an annual coupon of 3.875 per cent and an annual yield of 3.889 per cent, was priced at +31 basis points over the 1.625 per cent UK Gilt due October 2028. The joint lead managers for this transaction include Citigroup, NatWest Markets, Santander, and TD Securities. Following the issuance, the bond is set to be listed on the Luxembourg Stock Exchange.
Jorge Familiar, Vice President and Treasurer of the World Bank expressed satisfaction with the strong start to the new year, emphasizing the diverse range of currencies and tenors in bonds supporting the World Bank’s sustainable development mandate.
Familiar said, “We are pleased to start the new year off strong, offering the market an array of currencies and tenors in bonds that finance the World Bank’s sustainable development mandate. This transaction marks the largest sterling benchmark bond for Supranational Sovereign and Agency (SSA) issuers since the World Bank’s issuance in January 2022.”
Conor Hennebry, Global Head of Corporate Debt at Santander, applauded the robust demand and long-standing support from the GBP investor base for the World Bank and its sustainable development mandate. He highlighted Santander’s delight in supporting the World Bank on their sterling bond issue. “We are delighted to support the World Bank on their sterling bond issue today. This syndication is a clear demonstration of the robust demand and long-standing support from the GBP investor base for the World Bank and its sustainable development mandate,” said Hennebry.