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World Bank Launches Bond in Nigerian Naira

Washington, DC, January 13, 2011 – Today, the World Bank (International Bank for Reconstruction and Development, rated Aaa/AAA) launched a Nigerian Naira (NGN) 4.6 billion 1-year fixed rate note. The notes are due on January 31, 2012 and have an annual coupon of 9.75%.


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 J.P. Morgan Securities Ltd.

Transaction Summary:

Amount: NGN 6.1 billion(USD equivalent 39, 765 million)
Settlement date: January 31, 2011
Maturity date: January 31, 2012
Issue price: 100%
Coupon: 9.75% p.a.
Denomination: NGN 1,000,000
Listing: Luxembourg Stock Exchange
Clearing systems: Euroclear and Clearstream
ISIN: XS0580813615

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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