2019 Benchmark Program with Largest Supranational Canadian Dollar Global Bond launched!

The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) has priced its first benchmark and largest CAD 1.5 billion Sustainable Development bond, issued by an SSA (sovereign, supranational agency) in the Canadian market.

The Sustainable Development bond raises awareness for the long-lasting benefits of investing in the health and nutrition of women, children, and adolescents.

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These priorities are addressed under the Sustainable Development Goals, specifically SDG 3—ensure healthy lives and promote well-being for all at all ages—and SDG 5—achieve gender equality and empower all women and girls.

Market reception for the bond was extremely strong. The bond was nearly 2.5 times oversubscribed. It was upsized from an initial target of CAD 1 billion, recognizing the high quality, diversified order book.

The bond was placed with 43 investors globally, including Addenda Capital Inc, Manulife Asset Management, and Sun Life. BMO Capital Markets and TD Securities were joint lead managers for this transaction.

World Bank Vice President and Treasurer, Jingdong Hua said, “This is a fantastic transaction to kick off our 2019 benchmark program. The warm welcome from investors signals the deepening demand for high quality assets that combine financial and development returns.”

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Hua also said, “It is also a vote of confidence in our strategy to engage with investors and highlight the powerful role of capital markets in achieving the Sustainable Development Goals.”

This Sustainable Development Bond is part of a World Bank initiative to engage investors on the importance of investing in the health and nutrition of women, children and adolescents.

Since the initiative was launched in June 2018, the World Bank has raised over US$2 billion from institutional and retail investors focused on highlighting these issues.

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