WASHINGTON, April 13, 2023 - The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) today priced a CAD 900 million tap of its 5-year benchmark that matures on January 18, 2028, bringing the total amount to CAD 1.9 billion. World Bank Sustainable Development Bonds support the financing of projects in member countries in line with its mission to eradicate extreme poverty and boost shared prosperity in a sustainable manner.
The bond pays a semi-annual coupon of 3.70% p.a., has an issue price of 101.014%, and a final spread of 38.8 bps over the CAN 3.50% March 2028 reference bond, offering investors a yield of 3.465% (semi-annual). Joint lead managers for this transaction are BMO Capital Markets, CIBC Capital Markets, and Scotiabank.
Jorge Familiar, World Bank Vice President and Treasurer, said, "We are very happy to be back in the market so soon after re-opening the Sovereign, Supranational, and Agency (SSA) Canadian dollar primary markets with a benchmark transaction at the beginning of the year. The size of this tap shows that investors value liquid, triple-A rated products for their portfolios, and that they are keen to support the World Bank's sustainable development activities."
Investor Distribution
By Investor Type |
By Region |
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Banks/Bank Treasuries/Corporates |
58% |
Canada |
79% |
Central Banks/Official |
27% |
Europe/Middle East/Africa |
13% |
Asset Managers/Insurance/Pension Funds |
15% |
Asia |
7% |
Other |
1% |
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Transaction Summary
Issuer: |
World Bank (International Bank for Reconstruction and Development, IBRD) |
Issuer rating: |
Aaa/AAA (Moody's/S&P) |
Tap Amount: |
CAD 900,000,000 |
New Outstanding: |
CAD 1,900,000,000 |
Settlement date: |
April 24, 2023 |
Maturity date: |
January 18, 2028 |
Issue price: |
101.014% |
Issue yield: |
3.465% semi-annually |
Coupon: |
3.70% per annum |
Denomination: |
CAD 1,000 |
Listing: |
Luxembourg Stock Exchange |
ISIN: |
CA459058KM45 |
Clearing system: |
CDS, Clearstream, Euroclear |
Joint lead managers: |
BMO Capital Markets, CIBC Capital Markets, Scotiabank |
About the World Bank
