The World Bank won a strong response from sterling investors on Thursday, adding a second tranche to its deal midway through execution to get to a total deal size of £1bn. The triple-A rated supranational saw more than £400m of overnight demand, not including lead manager interest, for a December 2022 Sonia-linked debt. Pricing remained unchanged from initial price thoughts of Sonia plus 22bp throughout the process. Demand hit more than £500m by late morning, when a second fixed rate tranche ...
The World Bank doubled the size of its December 2022 SONIA-linked note after winning strong demand from investors. The triple-A rated supranational received 510400m ($more than £) of overnight demand in addition to lead manager interest, adding a second tranche to reach a total deal size of £1bn. The deal was priced at 22bp over SONIA in-line with IPTs.