World Bank
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The World Bank priced a landmark deal this week as financial markets ween themselves off Libor. But the execution of the $1bn August 2020 bond, the supranational's first with a coupon linked to the Secured Overnight Financing Rate, sparked a debate about the premium the borrower paid. Burhan Khadbai reports. -
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World Bank is looking to issue more deals in euros in its fiscal year, ahead of large redemptions in the currency.
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World Bank took $1bn for its first trade linked to the Secured Overnight Financing Rate (SOFR) on Tuesday as bankers debated the best way to find fair value for the new product.
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World Bank is preparing to launch a bond on the blockchain — the first ever publicly issued deal to be created, allocated and settled entirely using blockchain technology.
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World Bank is following Fannie Mae’s trailblazing issue of Secured Overnight Financing Rate (SOFR) floating rate notes after mandating banks on Monday for what will be the second ever trade to reference the rate.
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World Bank scored an average of 7.27 with its first euro benchmark in almost two years, with voters particularly praising the deal in the structure/maturity category.
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The World Bank is set to become the first supranational to issue a bond that will be "created, allocated, transferred and managed through its life cycle using distributed ledger technology", according to a press release.
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There were various approaches to assessing the fair value of World Bank’s €750m August 2034 trade this week, its first euro benchmark in almost two years.
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World Bank returned to the euro benchmark market for the first time since October 2016 on Wednesday, amid an attractive euro/dollar basis swap for dollar funders.
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The World Bank has chosen leads to run a euro benchmark that will be the first from the borrower in nearly two years.
