World Bank Prices a NOK 3 Billion Floating Rate Sustainable Development Bond
India, April 20 -- WASHINGTON - The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) today priced a 3 billion Norwegian krone-denominated floating rate Sustainable Development Bond that matures on October 26, 2029.
The bond offers a quarterly coupon of 3-month NIBOR + 19 bps and was priced at 100%. Nordea acted as sole lead manager for the transaction.
The bonds were placed with Norwegian investors, with banks representing the majority share of allocations at 74%, followed by central banks and official institutions at 24%. The remainder was placed with insurance companies, pension funds and others.
Andrea Dore, Head of Funding, World Bank Treasury, said, "The impressive size of this Sustainable Developm...
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