The World Bank (International Bank for Reconstruction and Development, IBRD rated Aaa/AAA) has priced its first benchmark of 2024 – an Australian dollar 2 billion 5-year bond due January 10, 2029.
The transaction attracted over 50 orders totaling more than AUD 2.4 billion from investors drawn to IBRD’s high credit quality while supporting the World Bank’s mission. World Bank Sustainable Development Bonds support the financing of green and social projects, programs and activities in IBRD member countries.
The 4.30% p.a. fixed-rate bond equates to a spread of +60.4 basis points over the Australian government bond due November 2028. The joint-lead managers for the transaction are Deutsche Bank, J.P. Morgan, Nomura International plc and RBC Capital Markets.
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“This transaction was a remarkable launch to our funding program for the new year,” said Jorge Familiar, Vice President and Treasurer, World Bank. “The Australian dollar market is important to provide investment opportunities to a broad set of globally diverse investors – a cornerstone of our program which allows a large number of investors to participate and support the institution’s mission to end extreme poverty and boost prosperity on a livable planet.”
Investor Distribution
By Geography |
By Investor Type |
| Asia 56% | Banks/Bank Treasuries 38% |
| Australia 22% | Central Banks / Official Institutions 37% |
| EMEA 22% | Asset Managers/Insurance/Pension Funds 25% |
