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The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) priced a USD 1.5 billion 5-year benchmark bond linked to the Secured Overnight Financing Rate (SOFR) index. It is the largest SOFR Index-linked bond issued by a Sovereign, Supranational or Agency (SSA). More than 30 investors placed orders

in excess of USD 1.7 billion. The order book was anchored by bank treasuries and asset managers. Joint lead managers for this transaction were BMO Capital Markets, RBC Capital Markets and Wells Fargo Securities, LLC.

The 5-year benchmark matures on September 18, 2025 and has an interest rate of Compounded SOFR +31 basis points.

“We are very pleased to offer investors a liquid, SOFR Index-linked product from the World Bank - an issuer of the highest credit, that also enables them to achieve a positive social and development impact,” said Jingdong Hua, Vice President and Treasurer, World Bank. “The continued development of robust alternatives to LIBOR helps strengthen the global financial system, and we are grateful for the increasing number of investors joining this growing market.”