Washington, DC, September 2, 2014 – The World Bank (International Bank for Reconstruction and Development, IBRD, rated Aaa/ AAA) today announced that it has issued another bond in the offshore Renminbi market. This is the World Bank's first issuance in that market with a maturity of under one year.
The World Bank 300 million Chinese Renminbi (CNY) bond offers a a coupon of 2.40% p.a. and matures on December 10, 2014.
The bond was issued to respond to demand from an institutional investor in the MENA (Middle East and North Africa) region for a Renminbi asset of high credit quality, and to continue with the World Bank's support of the development of the Renminbi market.
Issuer: World Bank (International Bank for Reconstruction and Development, IBRD)
Issuer rating: Aaa/AAA
Amount: CNY 300 million (USDeq. 49 million)
Settlement date: September 10, 2014
Maturity date: December 10, 2014
Issue price: 100%
Coupon: 2.40% p.a.
Denomination: CNY 1,000,000
Clearing system: Euroclear / Clearstream
Lead manager: Credit Agricole CIB
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).