World Bank’s USD 5 Billion Benchmark Bond Attracts Exceptional Investor Interest in Support of its Mission

WASHINGTON, D.C., October 21, 2025 – The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) today priced a USD 5 billion benchmark bond that matures in October 2030.

With more than 165 investor orders, the transaction attracted over USD 11 billion high-quality investor orders, primarily driven by bank treasuries, central banks/official institutions, and asset managers.

The lead managers are Citigroup Global Markets Limited, Goldman Sachs International, Morgan Stanley & Co. International plc, and Nomura International plc. The bond pays a semi-annual coupon of 3.500%, offers a spread of 5.93 basis points versus the reference US Treasury and will be listed on the Luxembourg Stock Exchange.   

“The outstanding result of this transaction reflects the steadfast commitment of our reliable, diversified global investor community to the World Bank’s mission. Their continued support enables us to unlock resources for projects that build the foundation to create jobs and improve lives, helping us move closer to a world free of poverty on a livable planet,” said Jorge Familiar Vice President and Treasurer, World Bank.

Investor Breakdown by Type

Investor Breakdown by Geography

Lead Manager Quotes

“Another successful US dollar benchmark for the World Bank team. This outcome reflects the strong support from the global Sovereign, Supranational and Agency (SSA) investor base of the World Bank's development mission and demand for high quality, liquid assets. Citi is proud to have had the opportunity to work on this transaction," said Ebba Wexler, Head of SSA DCM, Citi.

“Compliments to the World Bank team on the extremely successful USD 5-year global benchmark issuance. The World Bank continues to garner strong backing from its international investor base, as evidenced by the impressive orderbook consisting of top-quality investors, as well as the record tight benchmark spread. Goldman Sachs is delighted to have participated in this transaction and contribute to the World Bank's mission of sustainable development,” said Dorothee Amar, Co-head of SSA, Goldman Sachs.

“It was impressive to see the World Bank team deliver their sensational 5-year US dollar Sustainable Development Bond. The issuance garnered a high-quality diverse order book, demonstrating the robust support for World Bank bond issuance.  Morgan Stanley was honored to support World Bank in the primary markets again, aiding them in their crucial sustainable development efforts,” said Ben Adubi, Managing Director, Head of SSA, Morgan Stanley.

"Another impressive result for IBRD with their second US dollar 5-year Sustainable Development Bond of the year. Once again, the transaction delivered an extremely strong and diverse orderbook.  As always for an IBRD trade, the quality and diversity of accounts reflects World Bank’s position as a market leader in the SSA US dollar market. Congratulations on a truly fantastic result," said Spencer Dove, Head of SSA DCM, Nomura.

Transaction Summary

About the World Bank
The World Bank (International Bank for Reconstruction and Development, IBRD), rated Aaa/AAA (Moody’s/S&P), is an international organization. Created in 1944, it is the original member of the World Bank Group and operates as a global development cooperative owned by 189 nations. The World Bank provides loans, guarantees, risk management products, and advisory services to middle-income and other creditworthy countries to end extreme poverty and promote shared prosperity on a livable planet. It also provides leadership to coordinate regional and global responses to development challenges. The World Bank has been issuing bonds in the international capital markets for over 75 years to fund programs and activities that achieve a positive impact. World Bank bonds are aligned with the Sustainability Bond Guidelines published by the International Capital Market Association. More information on the World Bank’s Sustainable Development bonds is available at www.worldbank.org/debtsecurities and in the World Bank’s Sustainable Development Bond Impact Report that describes how the World Bank engages with investors and raises awareness for specific development challenges. 

Disclaimers
This press release is not an offer for sale of securities of the International Bank for Reconstruction and Development ("IBRD"), also known in the capital markets as "World Bank". Any offering of World Bank securities will take place solely on the basis of the relevant offering documentation including, but not limited to, the prospectus, term sheet and/or final terms, as applicable, prepared by the World Bank or on behalf of the World Bank, and is subject to restrictions under the laws of several countries. World Bank securities may not be offered or sold except in compliance with all such laws. The World Bank Sustainable Development Bond Framework, the World Bank’s Sustainable Development Bond Impact Report, and the information set forth therein are not a part of, or incorporated by reference into, the offering documentation.

Net proceeds of the bonds described herein are not committed or earmarked for lending to, or financing of, any particular projects or programs. Payments on the bonds described herein are not funded by any project or program.

Contact  
Investor Relations and Sustainable Finance, World Bank Treasury,  
debtsecurities@worldbank.org