Washington, DC, June 13, 2014 – Today, the World Bank (International Bank for Reconstruction and Development, rated Aaa/AAA), launched an Indian Rupee (INR) 2.5-year fixed rate note. All payments for the INR 2 billion note will be made in United States Dollars (USD). The bonds will be distributed to institutional investors in Asia, Europe, and USA.
The lead-managers for the transaction are Toronto Dominion Securities and HSBC.
Transaction Summary:
Issuer: World Bank (International Bank for Reconstruction and Development, IBRD)
Issuer rating: Aaa/AAA
Amount: INR *2 billion (USDeq. 33.7 million)
Settlement date: June 20, 2014
Maturity date: December 20, 2016
Issue price: 99.93%
Coupon: 6% annually short-first coupon (payable in USD)
Denomination: INR 50,000 and multiples thereof
Listing: Luxembourg Stock Exchange
Clearing system: Euroclear / Clearstream
Lead manager: Toronto Dominion Securities, HSBC
ISIN: XS1078730584
*On September 30, 2014, IBRD agreed to increase the principal amount with a second tranche in the amount of INR 1 billion with an issue price of 100.205% (settlement date: October 14, 2014). The new total outstanding principal amount is INR 3 billion.
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 operates as a global development cooperative owned by 188 nations. It provides its members with financing, expertise and coordination services so they can achieve equitable and sustainable economic growth in their national economies and find effective solutions to pressing regional and global economic and environmental problems. The World Bank has two main goals: to end extreme poverty and promote shared prosperity. It seeks to achieve them primarily by providing loans, risk management products, and expertise on development-related disciplines and by coordinating responses to regional and global challenges. It has been issuing bonds in the international capital markets for over 60 years to fund its activities. Information on bonds for investors is available on the World Bank Treasury website: (www.worldbank.org/debtsecurities).
