Summary terms and conditions
Amount: GBP *350 million
* The principal amount of the bond was increased on January 6 by the issue of a second tranche for an amount of GBP 50 million with an issue price of 99.989% (settlement date: February 13, 2008). The new total outstanding principal amount is GBP 400 million.
The World Bank's bond products and investor presentation can be accessed through the website of the World Bank for bond investors (www.worldbank.org/debtsecurities). For a list of selected bonds issued recently by the World Bank, see: http://treasury.worldbank.org/recentissues.
About the World Bank
The World Bank is a global development cooperative owned by 185 member countries. Its purpose is to help its members achieve equitable and sustainable economic growth in their national economies and find effective solutions to pressing regional and global problems in economic development and environmental sustainability, all with a view to overcoming poverty and improving standards of living for people worldwide.
To fulfill its mandate, the World Bank Group, working through four specialized entities, provides its members with financial services, access to experts and a pool of knowledge in development-related disciplines as well as convening and strategic services to help members pool, administer and prioritize resources they dedicate to development-related objectives.
The International Bank for Reconstruction and Development (IBRD), rated Aaa/AAA, is the oldest and largest entity in the World Bank Group and provides funding, risk management tools and credit enhancement to sovereigns. To fund this activity, IBRD has been issuing debt securities in the international capital markets for 60 years. The World Bank’s mission to fight poverty and its investments in sustainable development, including in education, health and environment, make IBRD bonds suitable for socially responsible investors. The World Bank is also the Treasury Manager for the International Finance Facility for Immunisation (IFFIm), the world’s first multilateral issuer that provides grants for a specific development purpose – health and immunization programs.
The World Bank has gained recognition as one of the market’s most innovative borrowers. It pioneered the currency swap in 1981, the first global bond (1989) and the first fully electronic bond offering (2000), among other “firsts.” It was IFR’s “Borrower of the Decade” for the 1980s and recognized by bankers in a recent EuroWeek poll as “Most Innovative Borrower over the last 20 years.”
In 2007 the World Bank raised US$11 billion in medium- to long-term funding. The World Bank’s debt products are offered in a variety of currencies and include large bonds distributed globally as well as bonds tailored to retail or institutional investors in specific markets. World Bank debt products provide investors with the assurance of a superior credit rating, a wide choice of products and strong secondary market performance for liquid World Bank global bonds. The World Bank also customizes its debt offerings to meet investors' specific asset and liability needs.
For more information, see www.worldbank.org/debtsecurities.