Commentary & Deal Flow

Reoffer: 30yr: MS+80bp / 99.353 / 4.339%
Benchmark: 30yr: DBR 2.9 15-Aug-56 @ 82.37 / B+42.8bp

Tranche 1 (30yr): Peak book over €1.2bn (exc JLM interest)

Launched: 30yr: €1bn @ MS+80bp - Orderbooks closed over €1.2bn (exc JLM interest)
Spread set at: 30yr: MS+80bp - Orderbook over €1bn (exc JLM interest)
Guidance: 30yr: MS+82a

• Issuer: The International Development Association (IDA)
• Ticker: IDAWBG
• Issue Rating: AAA (S&P) / Aaa (Moody's) (both stable)
• Format: Global (SEC exempt) Sustainable Development Bond
• Total Size: €1bn
• Settlement: 16-Oct-26 (T+6)
• Maturity: 16-Oct-56
• Spread: MS+80bp
• Reoffer: 99.353 / 4.339%
• Benchmark: +42.8 bps vs DBR 2.9 15-Aug-56 (82.37/3.911)
• Coupon: 4.3%, Fixed, Annual ACT/ACT
• Listing: Luxembourg Stock Exchange's Regulated Market
• Docs: Global Debt Issuance Facility
• Law: English Law
• Denoms: €1,000 + €1,000
• ISIN: XS3538132773
• Bookrunners: DB (B&D) / BNPP / DZ Bank
• Target Market: Retail / Professional / Eligible Counterparties (MIFID II/UK MiFIR, all distribution channels)
• Timing: Priced, TOE 11.33 UKT, FTT immediately