World Bank

Thursday, 22 November 2018

New investors, not volume, the target of World Bank’s latest sustainability bond

Accessing private investors and adding scale to tangible impact investing motivated World Bank to bring its new sustainable growth bond. The issuer and its lead say the deal presented a unique opportunity to engage new investors on the UN sustainable development goals (SDGs) and World Bank’s bond issuance.

Thursday, 25 June 2020

Technicals supporting Kauri rebound

Kauri issuance rebounded in May-June as more than NZ$2.6 billion (US$1.7 billion) priced, including a rare 10-year transaction of record volume for the tenor. Technical demand drivers are at play but intermediaries suggest positive conditions could remain even as a supply gap closes in the second half of 2020.

Wednesday, 13 May 2020

World Bank’s Kauri tap contributes to COVID-19 response

Normalisation in the cross-currency market opened a New Zealand dollar funding opportunity for World Bank, as part of the borrower’s record funding drive in response to the COVID-19 crisis.

Monday, 11 May 2020

World Bank releases book update for January 2024 Kauri tap

On 12 May, World Bank (AAA/Aaa) released a book update on its January 2024 Kauri increase after launching a day earlier. The minimum volume has been increased to NZ$250 million (US$151.9 million) from NZ$150 million, as pricing remains unchanged at 41 basis points area over mid-swap. The book is in excess of NZ$270 million, with the issuer open to further upsize. ANZ and BNZ are leading.

Monday, 11 May 2020

World Bank launches January 2024 Kauri tap

On 11 May, World Bank (AAA/Aaa) launched a minimum NZ$150 million (US$92.1 million) increase to its January 2024 Kauri bond. The forthcoming deal is being marketed at 41 basis points over mid-swap, with pricing expected on the day after launch. ANZ and BNZ are leading.

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