IDA grabs record book with sterling debut

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By Burhan Khadbai
16 Jan 2020

The International Development Association (IDA) impressed with its debut sterling bond on Thursday, as it received the largest ever order book for the currency in the SSA market. It also equalled the biggest ever trade in sterling by a non-UK public sector borrower.

Leads Barclays, Citi, NatWest Markets and TD Securities opened the books for IDA’s December 2024 sterling benchmark with guidance of 39bp area over the September 2024 Gilt, after taking over £1bn ($1.31bn) in indications of interest.

As the books exceeded £2bn, the leads revised ...

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