World Bank Raises USD 668 Million through Largest Italian Retail Network

June 6, 2016 - The World Bank (International Bank for Reconstruction and Development, IBRD, rated Aaa/AAA) has raised USD 667.816 million through its Notes due May 31, 2026. The Notes offer investors a fixed rate coupon for the first year and floating rate coupons thereafter. The trade launched in early May and priced on May 25, 2016. This 10-year USD Note has a one-year fixed coupon of 2.33% per annum, and thereafter a floating annual coupon of USD Libor 3-months flat, capped at 2.33% per annum and floored at 0.00%.

The Notes were distributed to private banking and retail investors through Fideuram Intesa Sanpaolo Private Banking, the largest private banking network in Italy. Banca IMI, the investment bank of the Intesa Sanpaolo Group, was the sole bookrunner for this transaction. “This is a fantastic result - I am extremely pleased with the exceptionally strong response from Italian retail investors. The success of this transaction shows that investors are very interested in high-quality investment opportunities that focus on achieving a positive impact for society.

I applaud the Italian investors who contributed to this bond allowing us to fund our development programs working towards a goal that benefits us all,” said Arunma Oteh, Vice President and Treasurer, World Bank. “We’re proud to have arranged this very successful transaction for the World Bank: Italian retail was given the opportunity to invest in such a unique issuer and demonstrated strong appetite. This placement is a testimony of the effectiveness of the synergies between the investment banking and private banking arms of the Intesa Sanpaolo Group in accessing the Italian retail savings pool,” added Pantaleo Cucinotta, Head of Debt Capital Markets, Banca IMI.