World Bank doubles sterling tranches during bookbuilding

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By Mike Turner
06 Jun 2019

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 ...

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