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The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) priced a new 5-year CAD $1.4 billion benchmark that matures in January 2029. World Bank bonds support the financing of sustainable development projects, programs, and activities in IBRD member countries.
The 5-year benchmark transaction pays a semi-annual coupon of 3.50% p.a. and has an issue price of 99.678% and a final spread of 32.9 bps over the CAN 3.250% September 2028 reference bond, offering investors a yield of 3.571% (semi-annual). Joint lead managers for this transaction are CIBC, RBC Capital Markets, National Bank Financial and TD Securities.
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“It has been a dynamic start to the new year for the World Bank, as we conclude successful transactions in three different currencies AUD, USD and now in CAD,” said Jorge Familiar, Vice President and Treasurer, World Bank. “This transaction has appealed to a strong diverse investor base across the globe, with investors seeking safe, liquid and positive impact investment opportunities in Canadian dollars.”