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PRESS RELEASE August 22, 2017

Latest World Bank USD Global Bond Offers Opportunity to Support Global Development Priorities

Washington, DC, August 22, 2017 – The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) today priced a USD-denominated global benchmark bond that raised USD 3 billion from investors in the Americas, Asia, Europe, Middle East and Africa. Proceeds of the bond will support the financing of World Bank’s development activities around the world.

The transaction was oversubscribed. Investor participation was particularly strong from central banks and official institutions, as well as from asset managers. A significant number of corporates and bank treasuries also participated. Joint lead managers for this global bond are Bank of America Merrill Lynch, Citi, J.P. Morgan, and TD Securities.

This new 3-year benchmark bond from IBRD has a semi-annual coupon of 1.625% per annum and a maturity date of September 4, 2020.  It offers investors a semi-annual yield of 1.632%, equivalent to 16.7 basis points over the 1.500% UST due August 15, 2020.

“This is the World Bank’s first USD global transaction since March of this year. We are delighted with the excellent result achieved for our borrowing member countries who benefit from attractive financing for their development priorities. At the same time, it offers investors a safe and liquid product that enables them to achieve a positive social and development impact with their investment. We value the new and continuing relationships that we enjoy with our investors and financial partners and thank them for assisting us with establishing a unique track record since the World Bank’s first bond in the capital markets 70 years ago. Our partnership with the private sector yields multiple benefits for World Bank members – working together, we can achieve the Sustainable Development Goals,” said Arunma Oteh, Vice President and Treasurer, World Bank.


Transaction Summary


World Bank 
(International Bank for Reconstruction and Development, IBRD)

Issuer rating:

Aaa /AAA




USD 3 billion

Settlement date:

August 29, 2017


1.625% per annum

Coupon payment dates:

Payable semi-annually on March 4 and September 4 each year

Maturity date:

September 4, 2020

Issue price:


Issue yield:



Luxembourg Stock Exchange

Clearing systems:

Fedwire, Euroclear, Clearstream



Joint lead managers:

Bank of America Merrill Lynch, Citi, J.P. Morgan, and TD Securities

Senior co-lead managers:

BMO, CastleOak, Wells Fargo

Co-lead managers:

BNP Paribas, Deutsche Bank, FTN Financial Securities Corp, HSBC, InCapital, Mesirow Financial, Inc., MUFG Securities EMEA plc, Mizuho, Morgan Stanley, Nomura, RBC


Joint lead manager quotes

 “The World Bank has reopened the benchmark market after the summer break and a lull of some months from any liquid supply. With the tightest spread to US Treasuries for the SSA 3-year sector in 2017, the transaction is an example of World Bank’s success in offering a liquid SSA reference point to investors”, said Adrien de Naurois, Head of SSA Syndicate, Bank of America Merrill Lynch.

“With the first USD global benchmark of their fiscal year, IBRD has reopened the USD market after the summer. They have achieved a very attractive cost of financing while continuing to diversify their investor base, particularly in the United States”, said Philip Brown, Managing Director, Head of Public Sector DCM, Citi.

“The World Bank proves that its affinity with investors remains so strong, that it can virtually issue a new bond any day of the week, including Sunday.  Despite the market still in summer mode, this jumbo 3-year issuance at a sub-libor level illustrates that the World Bank has access to a broad and global array of investors, any time of year”, said John Lee-Tin Jr, Head of SSA DCM and EMTN, Managing Director, JP Morgan.

“Once again, this deal is testament to the global appeal of the World Bank’s USD offerings. The quality of the book confirms its strength in the market, and has set a great tone for the start of its 2017-18 fiscal year. TD is delighted to be involved in such a successful deal, which is the World Bank’s first benchmark since its 70th anniversary in July”, said Salvatore Aloisi, Head of Origination & Syndication, TD Securities.

The present transaction is consistent with the World Bank’s longstanding practice of deploying its franchise as an issuer in the international capital markets to offer investor’s high-quality, liquid instruments. This approach has direct benefits for World Bank member countries as well, since as a cooperative institution it is able to fund its activities as a provider of financial services to its members on highly attractive terms.

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 and the original member of the World Bank Group. It operates as a global development cooperative owned by 189 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 to its borrowing member government clients in middle-income countries and other creditworthy countries, and by coordinating responses to regional and global challenges. It has been issuing sustainable development bonds in the international capital markets for 70 years to fund its activities that achieve a positive impact. Information on World Bank bonds for investors is available on the World Bank Treasury website: www.worldbank.org/debtsecurities.