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World Bank's First Zambian Kwacha Bond

Washington, DC, December 8, 2010 – Today, the World Bank (International Bank for Reconstruction and Development, rated Aaa/AAA) launched a Zambian Kwacha (ZMK) 235,500 million 3-year fixed rate note. The notes are due on December 6, 2013 and have an annual coupon of 6.75%.


This transaction marks the first ever Zambian Kwacha denominated bond issued by the World Bank. The lead order for this transaction was from Nikko Asset Management Co., Ltd. (Nikko AM) for the World Supporter Fund, a fund comprised principally of World Bank bonds in a variety of emerging market currencies managed by Nikko AM.

This transaction is consistent with the World Bank’s strategy of offering bonds in a variety of currencies and maturities, in response to investor demand.


The sole lead-manager for the transaction is Barclays Bank Plc, London.

Transaction Summary:

Amount: *ZMK 235.500 million (USD equivalent 50.267 million)
Settlement date: December 21, 2010
Maturity date: December 6, 2013
Issue price: 100%
Coupon: 6.75% p.a.
Denomination: ZMK 750,000,000
Listing: Luxembourg Stock Exchange
Clearing systems: Euroclear and Clearstream
ISIN: XS0568622772

*The original launch amount on December 8, 2010 (ZMK 117,750 million) was increased on December 10, 2010 by the same amount to a total of ZMK 235,500 million (settlement date: December 21, 2010, issue price 100%).

About the World Bank

The World Bank (International Bank for Reconstruction and Development, IBRD), rated Aaa/AAA (Moody’s/S&P), is an international organization created in 1944. It operates as a global development cooperative owned by 187 nations. It provides its members with financing, expertise and coordination services so they can achieve equitable and sustainable economic growth in their national economies and find effective solutions to pressing regional and global economic and environmental problems. The overriding goal is to achieve major, sustainable improvements in standards of living worldwide. It has been issuing bonds in the international capital markets for over 60 years to fund its activities. Information for investors is available on the World Bank Treasury website: (www.worldbank.org/debtsecurities).

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