This significant move is part of the World Bank's strategy to raise funds for sustainable development initiatives within its member countries, aiming to generate GBP 1.5 billion from global investors.
The Sustainable Development Bond features an annual coupon of 3.875 percent and an annual yield of 3.889 percent. Notably, the bond was priced at a spread of +31 basis points over the 1.625 percent UK gilt due in October 2028. The issuance was overseen by joint lead managers, including Citigroup, NatWest Markets, Santander, and TD Securities. Following its successful launch, the bond is set to be listed on the Luxembourg Stock Exchange.
Jorge Familiar, Vice President and Treasurer of the World Bank, expressed his satisfaction with the strong start to the new year. He emphasized the significance of the diverse range of currencies and tenors in bonds that support the World Bank's sustainable development mandate.
This story is from the January 06, 2024 edition of The Business Guardian.
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This story is from the January 06, 2024 edition of The Business Guardian.
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