By Andrea Heisinger
New York, Feb. 2 - World Bank sold $5 billion of 0.875% five-year global bonds at a spread of Treasuries plus 17 basis points, according to a press release.
The notes (Aaa/AAA/) were priced at 99.848 to yield 0.905%.
Bookrunners were Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and UBS Securities LLC.
Senior co-managers were Credit Suisse Securities (USA) LLC, First Tennessee, Jefferies & Co. and Morgan Stanley & Co. LLC.
Co-managers were BNP Paribas Securities Corp., Bank of America Merrill Lynch, CastleOak Securities LP, Daiwa Securities America Inc., Goldman Sachs International, HSBC Securities, J.P. Morgan Securities LLC, Nomura Securities, RBC Capital Markets LLC and Toronto Dominion.
This was the World Bank's first U.S. dollar-denominated deal in 2012.
"We had been looking forward to resuming our global issuance program after the holiday season, and are delighted to have done so with a bond that commanded such strong attention from our traditional investor base," Doris Herrera-Pol, director and global head of capital markets at the World Bank, said in the release.
"The warm market reception for this bond highlights the continued strong demand for high quality supranationals as a safe haven asset."
According to the press release, 52% of the book total was bought by investors from Asia while 26% came from Europe. Central banks and official institutions bought 68% of the bonds, and bank treasury and corporate investors bought 18%.
The international financial institution aids developing countries and is based in Washington, D.C.
| Issuer: | World Bank
|
| Issue: | Global bonds
|
| Amount: | $5 billion
|
| Maturity: | April 17, 2017
|
| Bookrunners: | Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., UBS Securities LLC
|
| Senior co-managers: | Credit Suisse Securities (USA) LLC, First Tennessee, Jefferies & Co., Morgan Stanley & Co. LLC
|
| Co-managers: | BNP Paribas Securities Corp., Bank of America Merrill Lynch, CastleOak Securities LP, Daiwa Securities America Inc., Goldman Sachs International, HSBC Securities, J.P. Morgan Securities LLC, Nomura Securities, RBC Capital Markets LLC, Toronto Dominion
|
| Coupon: | 0.875%
|
| Price: | 99.848
|
| Yield: | 0.905%
|
| Spread: | Treasuries plus 17 bps
|
| Trade date: | Feb. 1
|
| Settlement date: | Feb. 9
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
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