World Bank draws flack in 30 year debut

Euro debt 230x150
By Burhan Khadbai, Lewis McLellan
03 Oct 2019

The World Bank made a brave foray into uncharted territory this week, printing a 30 year euro benchmark. Unfortunately for the supranational, the trade met with sharp criticism over its price, and speculation abounded that the deal had not been fully subscribed.

The supranational printed a €500m January 2050 global bond with a spread of mid-swaps plus 7bp and a yield of 0.318% on Wednesday. The deal was the longest ever euro benchmark from a non-European supranational. BNP ParibasDeutsche Bank and Goldman Sachs were the joint bookrunners.

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