The World Bank’s International Development Association priced a $3 billion bond on 15 September. Orders approached $8 billion, Reuters reported, citing a transaction source. The five-year issue was its first dollar borrowing since securing exemption from US securities-registration requirements.
The exemption became law in March 2026, according to IDA. It removes the regular SEC registration process for its securities. The change aligns its treatment with the International Bank for Reconstruction and Development and International Finance Corporation.
BROADER ACCESS TO US INVESTORS
IDA reported 125 orders, with US investors accounting for more than 30% of demand. The broader investor access is intended to reduce fundraising costs.
The transaction is a Sustainable Development Bond. IDA said net proceeds are not earmarked for particular projects, despite supporting its wider development-financing mandate.
PRICING AND SETTLEMENT
The coupon is 4.875%, paid semi-annually, and the issue yield is 4.884%. Bank of America, BMO Capital Markets, Citi and J.P. Morgan led the transaction.
Settlement is scheduled for 25 September 2026, with maturity on 25 September 2031. Pricing has been completed; receipt of proceeds remains tied to that forthcoming settlement.