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PRESS RELEASE November 10, 2020

World Bank Prices Global Dual Tranche Australian Dollar Bonds Totaling AUD 1.65 Billion

WASHINGTON, November 10, 2020 – The World Bank (International Bank for Reconstruction and Development, rated Aaa/AAA) today priced a long-dated 5-year AUD 1.1 billion and a 10-year AUD 550 million Sustainable Development Bond representing IBRD’s largest-ever AUD issuance and the largest for the Sovereigns, Supranationals, and Agencies (SSA) issuer segment in the Kangaroo market in a single outing.

The 5-year AUD 1.1 billion bond offers a coupon of 0.50% p.a. with a May 18, 2026 maturity and has an issue price of 99.838 % to yield 0.53% (semi-annual). This equates to a spread of 18.5 basis points over the 4.25% Australian Commonwealth Government Benchmark (ACGB) due April 2026.

The 10-year AUD 550 million offers a coupon of 1.100% p.a. with a November 18, 2030 maturity and has an issue price of 99.06% to yield 1.2% (semi-annual). This equates to a spread of 28.1 basis points over the 1.00% ACGB due December 2030.

The joint lead managers for the transactions are ANZ, Nomura, RBC Capital Markets and TD Securities.

“We are extremely pleased to return to the AUD market,” said Andrea Dore, Head of Capital Markets, World Bank. “The dual tranche allowed us to meet investor demand from different segments of the market and provide a high-quality investment. We thank investors for their support of the World Bank’s sustainable development mission to end extreme poverty and boost shared prosperity in member countries.”

Investor Distribution: AUD 1.1 Billion 5-Year

By Type


By Region


Banks/Bank Treasuries/Corporates




Central Banks/Official Institutions




Asset Managers/Insurance/Pension Funds




Investor Distribution: AUD 550 Million 10-Year

By Type


By Region


Banks/Bank Treasuries/Corporates




Asset Managers/Insurance/Pension Funds




Central Banks/Official Institutions




Joint Lead Manager Quotes

“What a return to the Kangaroo market for the World Bank,” said Harald Eikeland, Director, ANZ Debt Syndicate. “Again, proving the might of their brand with broad appeal, not just in Australia, but globally. Another landmark AUD SSA transaction for the World Bank. ANZ is proud to have acted as a joint lead manager for this transaction, delivering a great outcome for IBRD, the long-time market leader in sustainable finance.”

“Nomura were delighted to have been involved in the largest SSA Kangaroo deal on record, across both conventional and ESG bond formats,” said Oliver Holt, Executive Director, Nomura Syndicate. “At AUD 1.65 billion it surpassed the previous record of AUD 1.5 billion that the IBRD also set a decade ago. The World Bank benefitted from impeccable timing coming to market after the landmark announcement of the Reserve Bank of Australia (RBA)’s Australian dollar quantitative easing. The result speaks for itself as IBRD once again pushed new boundaries in global capital markets.”

“Following the historic announcement from the RBA around its quantitative easing program, the market saw triple-A curves perform, coupled with the lack of AUD SSA supply in 2020 and subsequent pent up investor demand, the World Bank capitalized on this strong window with a record breaking return to the Kangaroo market in 2020,” said Daniel Wilson, Vice President, RBC Capital Markets“The AUD 1.65 billion dual tranche 5.5-year and 10-year offering was the first since in this format 2017 and continues to highlight the depth of investor demand for the World Bank both domestically and as well as out of Asia and Europe. RBC is thrilled to continue to partner with the World Bank team in the Kangaroo market.”

“An incredible outcome and another record-breaking transaction from the World Bank team,” said Yuriy Popovych, Director, TD Securities. “The issuer timed their return to the AUD market perfectly, following the RBA's QE announcement and a strong market backdrop. This transaction underscores World Bank's position as a leading issuer in the Kangaroo market and highlights the broad investor following. TD is delighted to have partnered up once again with the team on their AUD outing”.

Transaction Summary





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

Issuer rating:



AUD 1,100,000,000

AUD 550,000,000

Settlement date:

November 18, 2020

November 18, 2020

Maturity date:

May 18, 2026

November 18, 2030


0.50% p.a. payable semi-annually in arrear

1.10% p.a. payable semi-annually in arrear

Coupon payments:

18 May and 18 November in each year

18 May and 18 November in each year

Re-offer price:



Re-offer yield:

0.53% semi-annual

1.20% semi-annual


AUD 1,000. The minimum consideration payable when offered or sold in Australia:
AUD 500,000

Clearing systems:

Austraclear / Euroclear / Clearstream




Joint lead managers:

ANZ, Nomura, RBC Capital Markets, and TD Securities


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: www.worldbank.org/debtsecurities.

World Bank bonds support the financing of programs that further the Sustainable Development Goals. World Bank bonds are aligned with the Sustainability Bond Guidelines published by the International Capital Market Association. The World Bank is also a member of the Executive Committee of the Green Bond and Social Bond Principles. A key priority for the World Bank’s capital markets’ engagement is building strategic partnerships with investors to promote the importance of private sector financing in sustainable development.


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, including the laws of New South Wales. 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

World Bank Treasury