World Bank doubles sterling tranches during bookbuilding
The World Bank won a strong response from sterling investors on Thursday, adding a second tranche to its deal midway through execution to get to a total deal size of £1bn.
The triple-A rated supranational saw more than £400m of overnight demand, not including lead manager interest, for a December 2022 Sonia-linked debt.
Pricing remained unchanged from initial price thoughts of Sonia plus 22bp throughout the process.
Demand hit more than £500m by late morning, when a second fixed rate tranche ...