Swiss-Targeted Reopening of World Bank Bond
Washington, DC, July 3, 2001 – The USD 1.25 billion 5% USD eurobond of the World Bank, due November 4, 2005, was reopened by USD 250 million to satisfy strong demand from Swiss investors.
UBS Warburg was the lead manager for the transaction. The co-lead managers include ABN Amro, Credit Suisse First Boston, Darier Hentsch & Cie, Lombard Odier & Cie, Pictet, RBC Dominion Securities, and Bank J. Vontobel & Co AG.
"We have been making an effort to target middle market and retail accounts in the US by including firms like Charles Schwab in our recent USD global bonds," said CK Teng, Lead Specialist for Capital Markets at the World Bank. "This transaction is an extension of our effort to reach out to this group of investors - this time, by specifically targeting Swiss accounts. Accordingly, the syndicate members are predominantly Swiss houses, and other international firms with strong Swiss retail distribution."
To cater to Swiss investors, the increase will be traded electronically on the SWX, the Swiss Stock Exchange platform (www.six-swiss-exchange.com/index_en.html), allowing for price transparency, liquidity and trading in small lots.
The original bond has been offered to retail clients through the UBS Warburg's Swiss buy list, and is already one of the most actively traded bonds on that list.
Payment date for the reopening is July 19, 2001. The bonds were offered to investors at 50 basis points over the 5-year benchmark US Treasury (4.625% May 15, 2006) and will be listed on the Luxembourg Stock Exchange.
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