The World Bank priced its first global benchmark issue in fiscal 2019, returning to the market with a US$5 billion three-year bond for sustainable development that received overwhelming support from investors. This is the World Bank’s first global U.S. dollar benchmark since November 2017.
Arunma Oteh, Vice President and Treasurer, World Bank, said: “This is a fantastic result for our first U.S. dollar global benchmark of the fiscal year. It shows that the market welcomes opportunities that offer safety, liquidity, and positive social impact. We are grateful for the support from investors around the world, and look forward to deepening our partnerships in the year ahead.”
The World Bank issues between US$50-US$60 billion annually in bonds for sustainable development. These range from structured notes that highlight the Sustainable Development Goals to benchmark-sized issuances that cover a variety of impact themes including climate, education, gender, health, social services and clean water and sanitation. A key priority for the World Bank’s engagement in the capital markets is to build strategic partnerships with investors and other market participants to raise awareness for development challenges and accelerate opportunities to mobilize finance for development.
Original source: World Bank
Published on 18 July 2018
