New Issue: World Bank sells $3 billion 1.625% three-year global notes

By Devika Patel

Knoxville, Tenn., Aug. 23 – The International Bank for Reconstruction and Development, known as the World Bank, priced $3 billion of 1.625% benchmark global notes (Aaa/AAA/) due Sept. 4, 2020 in an oversubscribed issue on Tuesday at a spread of Treasuries plus 16.7 basis points, according to a press release.

The notes priced at 99.979 to yield 1.632%,

BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and TD Securities (USA) LLC were the lead managers.

Proceeds will support World Bank’s development activities.

The global development financing cooperative is based in Washington, D.C.

Issuer:	International Bank for Reconstruction and Development (World Bank)
Amount:	$3 billion
Description:	Benchmark global notes
Maturity:	Sept. 4, 2020
Lead managers:	BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and TD Securities (USA) LLC
Co-managers:	BMO, CastleOak, Wells Fargo, BNP Paribas, Deutsche Bank, FTN Financial Securities Corp., HSBC, InCapital, Mesirow Financial, Inc., MUFG Securities EMEA plc, Mizuho, Morgan Stanley, Nomura, RBC
Coupon:	1.625%
Price:	99.979
Yield:	1.632%
Spread:	Treasuries plus 16.7 bps
Trade date:	Aug. 22
Settlement:	Aug. 29
Ratings:	Moody’s: Aaa
	S&P: AAA
Distribution:	Global

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