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PRESS RELEASE August 19, 2020

World Bank Prices New USD 3 Billion 10-Year Global Bond

Washington, D.C., August 19, 2020 – The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) priced today a USD 3 billion 10-year global benchmark Sustainable Development Bond maturing on August 26, 2030.       

Extremely strong demand from global investors for the USD benchmark led to an orderbook of over USD 4.6 billion, with more than 130 investor orders, anchored by central banks and official institutions. Other investors included bank treasuries, asset managers, as well as pension and insurance funds.

The 10-year benchmark pays a semi-annual coupon of 0.75% per annum and has an issue price of 99.415% and a final spread of 15.35 basis points over the 0.625% US Treasury August 30, 2030 reference bond, offering investors a yield of 0.811%. Joint lead managers for this transaction are Bank of America Merrill Lynch, HSBC, J.P. Morgan, and Wells Fargo Securities.

“We are grateful for the energetic response from investors to this 10-year US dollar benchmark which supports the World Bank’s mission to better the lives and livelihoods of hundreds of millions of people around the world,” said Jingdong Hua, Vice President and Treasurer, World Bank.“These efforts would not be possible without the commitment of a large, diverse, and global set of investors supporting sustainable development.”

Investor Distribution

By Geography

By Investor Type



Central Banks/Official Institutions




Asset Managers/Insurance/Pension Funds




Banks/Bank Treasuries/Corporates


Joint Lead Manager Quotes

“Another successful return to the market by the World Bank to the 10-year maturity. The transaction was met with strong and widespread support from IBRD’s global investor base, topping 130 orders. This once again highlights the ongoing support for the World Bank’s mandate which clearly resonates with investors-particularly in these testing times. Congratulations to the whole team,” said Adrien de Naurois, SSA Syndicate, Bank of America.

“The World Bank took advantage of highly constructive market conditions and achieved an excellent outcome by printing its tightest 10-year benchmark USD issuance since 2015. The deal resonated well with investors and led to an extremely high-quality book, which saw a significant contribution from central banks and official institutions. This transaction was a strong testament to the appeal of the World Bank name. We are very proud to have been involved at HSBC,” said Asif Sherani, Head of DCM Syndicate, EMEA, HSBC.

“The World Bank again affirms its position as a highly active and extremely well-received issuer in the Sovereign, Supranational and Agency (SSA) market, with its second 10-year USD benchmark in the calendar year – the first SSA issuer to do so in 2020.  The USD 3 billion deal size is well supported by a high-quality USD 4.6 billion orderbook with over 130 orders, an impressive outcome for a tenor that traditionally sees much smaller deal sizes. Well done to the World Bank team!” said Keith Price, Head of Frequent Borrower Group, J.P. Morgan.

“Wells Fargo Securities is honored to be part of this successful World Bank 10-year global bond. This issue becomes IBRD's second 10-year benchmark this year, making them the most active SSA borrower in this part of the curve. Despite low yields, the transaction achieved a tightening in spread and an oversubscribed book. Congratulations to the World Bank team,” said Carlos Perezgrovas, Head of SSA Origination, Wells Fargo Securities.

Transaction Summary


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

Issuer rating:



USD 3,000,000,000

Settlement date:

August 26, 2020

Maturity date:

August 26, 2030

Issue price:


Issue yield:

0.811% semi-annual


0.750% semi-annual


USD 1,000


Luxembourg Stock Exchange

Lead managers:

Bank of America Merrill Lynch, HSBC, J.P. Morgan, Wells Fargo Securities

Senior co-lead managers:

BMO Capital Markets, CastleOak, Deutsche Bank, Nomura

For more information on the World Bank Group and COVID-19

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 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 Group has two main goals: to end extreme poverty and promote shared prosperity. The World Bank (IBRD) 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. The World Bank has been issuing bonds in the international capital markets for over 70 years to fund its sustainable development activities and achieve a positive impact. Information on bonds for investors is available on the World Bank Treasury website:


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 net proceeds from the sale of World Bank securities are used to finance sustainable development projects and programs in World Bank’s member countries without being committed or earmarked for lending to, or financing of, any particular projects or programs. Returns on World Bank securities are not linked to the performance of any particular project or program.


Heike Reichelt
Head of Investor Relations and Sustainable Finance
World Bank Treasury