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World Bank Expands Leadership in USD SOFR Market with Second Transaction of 2024
The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) today priced a USD 1.5 billion Sustainable Development Bond linked to the Secured Overnight Financing Rate (SOFR), maturing on May 15, 2028. The transaction attracted over 55 orders with an order book of nearly USD 2.1 billion from a diverse set of investors seeking a high credit quality investment while supporting sustainable development. The 4-year SOFR-index linked note pays a coupon of Compounded SOFR +30 basis points. BMO Capital Markets, CIBC, and Deutsche Bank AG are the lead managers for the transaction. The bond will be ... (full story)