WASHINGTON, D.C., July 10, 2025 - Today, the World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) priced its first USD transaction of the of the 2026 fiscal year, adding USD 1.5 billion to its October 2030 bond referencing the Secured Overnight Financing Rate (SOFR) Index, bringing the total outstanding amount to USD 2.25 billion. The original SOFR-linked transaction was USD 500 million, issued in September 2023, and was increased in May 2025 to USD 750 million.
This reopening reflects strong investor demand for high-quality, liquid assets and underscores IBRD's ongoing commitment to the floating rate market linked to SOFR. SOFR is a rate based on transactions in the U.S. Treasury repurchase market and an alternative reference rate to USD LIBOR.
The bond matures on October 4, 2030, and pays a coupon of Compounded SOFR + 46 basis points (resetting daily and paid quarterly). BMO Capital Markets, CIBC Capital Markets, and Scotiabank acted as joint lead managers of the transaction.
Investor Breakdown by Type
By Geography |
By Investor Type |
||
Europe, Middle East, Asia |
49% |
Banks/Bank Treasuries/Corporates |
91% |
Americas |
38% |
Asset Managers/Insurance/Pension Funds |
6% |
Asia |
13% |
Central Banks/Official Institutions |
3% |
Transaction Summary
Issuer: |
World Bank (International Bank for Reconstruction and Development, IBRD) |
Issuer rating: |
Aaa /AAA |
Notional amount: |
USD 1,500,000,000 (new outstanding amount USD 2,250,000,000) |
Settlement date: |
July 17, 2025 |
Maturity date: |
October 4, 2030 |
Issue price: |
100.145% |
Coupon: |
Compounded SOFR + 46 bps |
Coupon Payment Dates: |
January 4, April 4, July 4, October 4 |
Re-Offer Spread: |
SOFR + 43 bps |
ISIN: |
US459058KX08 |
Listing: |
Luxembourg Stock Exchange |
Clearing system: |
Fedwire, Euroclear, Clearstream |
Lead managers: |
BMO Capital Markets, CIBC Capital Markets, Scotiabank |
About the World Bank
