Record Demand Fuels World Bank's Sustainable Bond

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by KnowESG
KnowESG_Record Demand Fuels World Bank-s Sustainable Bond

The World Bank (IBRD) recently launched a 7-year bond, aiming to raise funds for projects that fight extreme poverty and promote sustainability.

The bond, known as the Sustainable Development Bond, successfully secured $5 billion from investors. It is the first time the bank entered the US dollar market in 2024 and marked the largest order book for a 7-year World Bank bond.

Various investors, including bank treasuries, official institutions, and asset managers, showed keen interest. They were attracted by the World Bank's top-notch credit rating, its standing as a reliable asset, and its commitment to using funds for sustainable development in member countries.

The lead managers for this bond issuance were Barclays Bank PLC, BMO Capital Markets, BNP Paribas, and Citigroup Global Markets. The bond will be listed on the Luxembourg Stock Exchange and offers a semi-annual coupon of 4.00%, with a semi-annual yield of 4.082%.

Jorge Familiar, Vice President and Treasurer of the World Bank said, "This remarkable outcome reflects IBRD’s 75-year history as a stable and trusted bond issuer, attracting a diverse and growing group of investors dedicated to supporting sustainable development in our member countries."

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Source: World Bank

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