The International Bank for Reconstruction and Development (IBRD) went all 8 yards ($8billion) on 15 April to issue paper whose proceeds will go towards fighting COVID19. The triple A rated supranational sold $8billion of notes at a yelled of 0.704% in lots of $1,000 that attracted $12.5billion in appetite from over 190 investors. The COVID bond will be listed on the Luxembourg Stock Exchange.
The bond issuances are the banks commitment towards sustainable development goals for 2030.
Lead arrangers to the transaction were Barclays and BMO Capital while Deutsche Bank, Wells Fargo, Castle Oak Securities were co- lead arrangers.
This is the largest dollar bond issued by a supranational in the history of capital markets.
The Kwacha Arbitrageur
