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World Bank NZ retail offer closes

The World Bank closed its New Zealand retail notes offer on Friday 11 July, raising the target issue amount of $100 million.

Tuesday, July 15th 2008, 10:06AM
The interest rate for the notes was set on Monday 14 July at 7.0625%.

It is the first time a bond issue for a supranational issuer has been offered domestically to the retail public, said Rod Smith, head of debt capital markets at Westpac Institutional Bank.

"In addition to raising funding, the World Bank was able to inform the New Zealand public of the extent and quality of its work to facilitate positive social and economic change around the globe and we are proud to have been involved in facilitating this socially responsible investing," he said.

The issuer is International Bank for Reconstruction and Development (IBRD), part of the World Bank Group. The notes are senior unsecured obligations of IBRD. The minimum holding of notes is $5,000.

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