World Bank
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The World Bank visited the Maple market on Thursday to print the largest ever seven year Canadian dollar bond from a non-domestic issuer, raising C$750m ($569.8m) with a new sustainable development bond (SDB). -
World Bank gave a big boost to the flagging volumes in the sterling public sector bond market this week with the biggest deal in the currency from a supranational or agency borrower in five months.
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The World Bank raised NZ$550m ($369.9m) with a rare seven-year New Zealand dollar bond, breaking the record for the largest Kauri bond at that maturity or longer.
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The World Bank hit screens on Monday with a new seven year New Zealand dollar bond; the first at that tenor from a foreign issuer in almost 18 months.
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The New Development Bank has appointed the syndicate to lead its second dollar benchmark, the proceeds of which will fund its coronavirus response.
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Two public sector borrowers managed to get euro deals done in the primary market ahead of the European Central Bank’s governing council meeting on Thursday, with World Bank issuing its biggest ever bond in euros longer than 10 years and Hamburg comfortably crossing the line despite an embarrassing start to the execution process.
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The World Bank has selected a trio of banks for a new 15 year Sustainable Development Bond (SDB), its first euro benchmark of its 2020/21 fiscal year. Elsewhere, the Republic of Korea scooped €700m with its return to the euro market after a six year absence.
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SSA borrowers, and supranationals in particular, have long aspired to break into the vast pool of domestic US investors. Thanks to a long-dated floater linked to Sofr, the World Bank has found a new means of accessing these investors.
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The International Finance Corporation has mandated banks to lead a 10 year dollar bond in what will be the fourth public sector borrower to sell a bond in this part of the curve this week.
