World Bank prices dual tranche 2-yr and 7-yr benchmarks

The World Bank has priced two Sustainable Development Bonds – a $3 billion two-year bond maturing in April 2023 and a $5 billion seven-year bond maturing in April 2028. The transactions attracted over 250 orders, with the order book reaching $14 billion across both tranches.

Barclays, BMO Capital Markets, TD Securities, and Wells Fargo Securities are the lead managers for both transactions. The bonds will be listed on the Luxembourg Stock Exchange. 

The two-year tranche priced at a semi-annual yield of 0.229%. This equates to a spread vs. the reference US treasury of +6.98 basis points. The seven-year tranche priced at a semi-annual yield of 1.377%. This equates to a spread vs. the reference US treasury of +8.88 basis points.