Commentary & Deal Flow

Guidance: 6yr: SONIA MS+37a

• Issuer: World Bank (International Bank for Reconstruction and Development)
• Ticker: IBRD Corp
• Issue Rating: Aaa/AAA (Moody's/S&P)
• Format: Global (SEC Exempt) Registered Note. Sustainable Development Bond
• Size: £ Benchmark
• Settlement Date: 4-Sep-26 (T+6)
• Maturity Date: 15-Nov-32
• Guidance: SONIA MS (A,A/365) + 37bp area (eq . UKT 4 1/4 7-Jun-32 + 10.8bp)
• Coupon: Annual, ACT/ACT, short first on 15-Nov-26
• Benchmark: UKT 4 1/4 7-Jun-32
• Denominations: £1k + £1k
• Docs: Global Debt Issuance Facility
• Listing: Luxembourg Stock Exchange
• Leads: Barclays, Citi and Santander (DM/B&D)
• SEC Exemption: The Notes are not required to be registered with the U.S. Securities Act of 1933. Accordingly, no registration statement has been filed with the US Securities and Exchange Commission
• UOP: Bond proceeds support the World Bank’s sustainable development activities in member countries. World Bank’s latest Sustainable Development Bond Impact Report ishttps://worldbank.org/sdb-impact-reportfor examples of such eligible projects, programs, and activities. IBRD’s Sustainable Development Bond Framework is:https://worldbank.org/ibrd-sdb-framework
• Advertisement: The final prospectus, when published, will be available athttps://treasury.worldbank.org/IBRDfunding
• Target Market: For MIFID II/UK MiFIR purposes, all target markets and all distribution channels are eligible
• Timing: Books open, Today's business