Washington, DC, May 14, 2003 – The World Bank launched this morning a new USD1 billion issue of ten-year bullet maturity. The securities were priced around 12:00 noon NY time and are being offered to investors worldwide.
The transaction was joint lead-managed by JP Morgan and Citigroup, which combined took 90% of the bonds. The balance was syndicated to the following co-managers: Daiwa, Goldman Sachs, Morgan Stanley and Nomura.
As registered Fed Bookentry notes, the securities will be eligible for clearing through the major clearing systems - Euroclear and Clearstream in Europe, and Fedwire in the US.
Amount: USD *1 billion
Settlement date: May 21, 2003
Coupon: 3.625% per annum 30/360
Original maturity: May 21, 2013
Issue price: 99.122%
Spread: 17 basis points over the 10-year US Treasury
Interest payment dates: November 21, May 21
Form of notes: Registered, Fed Bookentry notes
Clearing systems: Fedwire, Euroclear or Clearstream
* Following the announcement yesterday, a strong order book was built quickly, and the issue was well oversubscribed upon pricing. About 55% percent of the issue was placed with accounts in Asia, 23% in North America, and 22% in Europe and the Middle East. The distribution among investor types was as follows: 31% to Banks/Retail, 25% to Asset Managers, 24% to Pension/Insurance, 18% to Central Banks and 2% to Others.* On July 17, 2009, IBRD agreed to increase the principal amount with a second tranche in the amount of USD 150 million with an issue price of 103.830% (settlement date: July 24, 2009). The new total outstanding principal amount is USD 1.15 billion.