Commentary & Deal Flow

The International Development Association (IDAWBG) exp Aaa/AAA (s/s) US$3bn 144A/Reg S 7y sr notes, sustainable development bond (SDB) due 9/17/32. Barc/BNP/DB/Scotia joint leads. Denoms: US$1,000 x US$1,000. List Lux. New York Law. UOP: IDA bonds support the financing of a combination of green and social, i.e. “sustainable development”, projects, programs, and activities in IDA member countries. See IDA’s Sustainable Development Bond Framework for examples of such eligible projects, programs, and activities https://worldbank.org/ida-sdb-... Pricing 9/10. Settle 9/17 (T+5). 144A ISIN: US45939FAB31.

IPTs: SOFR MS+57 area (equiv to ~CT7+13.2).
GUIDANCE: SOFR MS+56 area (equiv to ~CT7+12.9).
UPDATE: spread set at SOFR MS+55. Books in excess of $6.4bn (incl 200m JLM).
LAUNCHED: $3bn 7y at SOFR MS+55. Final books closed in excess of $7bn (incl 200mm JLM).

PRICED: $3bn 3.875% 9/17/32 99.891 3.893% SOFR MS+55 (CT7+11.6).