Skip to Main Navigation

IDA Funding Program

Press Releases

IDA Issues NOK 3 Billion Floating Rate Sustainable Development Bond


WASHINGTON, DC, September 12, 2024 – The International Development Association (IDA, Aaa/AAA) today issued a Norwegian krone 5.5-year floating rate benchmark bond that raised NOK 3 billion. The bond matures on March 12, 2030. This is IDA’s second floating rate transaction.

DNB and SEB acted as joint lead managers for the transaction. The deal was placed primarily with bank treasuries and asset managers in Norway.

IDA bond proceeds support the financing of projects and programs in eligible IDA countries to advance the Sustainable Development Goals in line with the mission to end extreme poverty and boost shared prosperity on a livable planet.

Transaction Summary

Issuer:

International Development Association (IDA)

Issuer rating:

Aaa/AAA

Amount:

NOK 3,000,000,000

Format:

Registered, Reg S

Settlement date:

September 12, 2024

Maturity date:

March 12, 2030

Issue price:

100%

Issue yield:

3m NIBOR + 20 bp

Coupon:

3m NIBOR + 20 bp, payable quarterly in arrear

Denomination:

NOK 10,000

Listing:

Luxembourg Stock Exchange

Lead managers:

DNB and SEB

ISIN:

XS2900381117

This press release does not constitute or form part of and should not be construed as an offer for sale or issue or the solicitation of an offer to buy or acquire the securities described in any jurisdiction or an inducement to enter into investment activity. No part of this press release, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. The offering and sale of the securities described in this document are subject to restrictions under the laws of several jurisdictions. Securities may not be offered or sold except in compliance with all such laws.

Net proceeds of the securities described herein are not committed or earmarked for lending to, or financing of, any particular projects or programs. Payments on the securities described herein are not funded by any project or program.

About IDA
The International Development Association (IDA), rated Aaa/P-1 and AAA/A-1+ (Moody’s/S&P), is one of the largest sources of funding for fighting extreme poverty in the world’s poorest countries. Since its establishment in 1960, IDA has provided about USD400 billion for investments in over 100 countries. As an institution of the World Bank Group, IDA combines global expertise with an exclusive focus on reducing poverty and boosting prosperity. Proceeds of IDA bonds support sustainable development projects and programs in IDA eligible countries. Projects and programs supported by IDA are designed to achieve a positive social impact and undergo a rigorous review and internal approval process aimed at safeguarding equitable and sustainable economic growth. Information on IDA bonds is available at https://treasury.worldbank.org/IDAfunding.

Contact
Heike Reichelt, Head of Investor Relations and Sustainable Finance, World Bank Treasury,

IDAInvestorRelations@worldbank.org

+1 202 477 2880