World Bank raises $4bn from 88 investors worldwide

Tax evasion hurts anti-poverty fight, says World Bank

The World Bank, yesterday, announced it has successfully raised $4 billion from 88 investors across the globe, including Nigeria, to support development programmes around the world.

The World Bank disclosed this in a statement entitled: “World Bank raises USD $4 billion through a 3-Year Global Benchmark Bond to Support Global Development Priorities.”

Commenting on the transaction, Vice President and Treasurer, World Bank, Arunma Oteh, said: “This was an outstanding transaction. As with our previous bonds, it anchors our annual funding programme and is instrumental to achieving our twin goals of eradicating extreme poverty and boosting shared prosperity.

“Its success not only reflects our track record as a premier issuer in the global capital markets, but also underscores the importance that investors accord to economic development.

“We value the strong commitment of our partners and bond investors who continue to see our transactions as opportunities to facilitate the financing of the Sustainable Development Goals.”

According the statement,”the World Bank today issued a USD-denominated global benchmark bond that raised USD 4 billion from investors in the Americas, Asia, Europe, Middle East and Africa. Proceeds of the bond will support the World Bank’s development activities around the world.

“The three-year bond transaction responds to investors demand for high quality assets at a time of increasing focus on the underlying environment challenge in the US and greater global economic and political uncertainty.”

“There were orders for over $5.6 billion from 88 investors representing central banks and official institutions (44 per cent), bank treasuries and corporates (29 per cent), and asset managers, insurance and pension funds (27 per cent). Joint lead managers for this global bond are BNP Paribas, Deutsche Bank, Morgan Stanley, and RBC Capital Markets.

“The 3-year benchmark has a semi-annual coupon of 1.875 per cent per annum and a maturity date of  April 21, 2020. It offers investors a yield of 1.904 per cent, equivalent to 23.05 basis points over the 1.625 per cent UST due  March 15, 2020.”





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About Haruna Magaji 5341 Articles
Haruna Magaji is a journalist, foreign policy expert and closet musician. He is a graduate of ABU Zaria and a member of the Nigerian union of journalists. JSA, as he is fondly called, resides in Suleja, Abuja. email him at - [email protected]

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