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The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) priced a 10-year GBP global benchmark bond, raising GBP 1.75 billion from investors around the globe to support the financing of its sustainable development activities. 

This is the World Bank’s second GBP global bond of 2020, following its GBP 1.5 billion 7-year global bond issued in January.

The transaction represents the largest-ever GBP bond by a supranational.  The high-quality order book exceeded GBP 2.8 billion and attracted over 100 investors. The bond offers an annual coupon of 1.000% and a semi-annual yield of 0.999%. It was priced at 36 basis points over the 0.0875% UK Gilt due October 2029. Barclays, J.P. Morgan, and TD Securities were joint lead managers for this transaction.  The bond will be listed on the Luxemburg Stock Exchange.

With annual issuances between US$50-US$60 billion, World Bank bonds support the financing of programs that support the Sustainable Development Goals. World Bank bonds are aligned with the sustainability bond guidelines published by the International Capital Markets Association (ICMA). 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.