THE World Bank attracted 115 orders totalling more than USD 4.8 billion for their USD 3.5 billion 10-year Sustainable Development Bond maturing in February 2031, it said on Tuesday.

The transaction, in the World Bank's largest funding currency, "appealed to investors seeking longer-dated US dollar bonds complemented by a sustainable development purpose that resonates especially with investors integrating Environmental, Social and Governance (ESG) criteria in their investment process ."

The deal attracted over 115 orders from globally diverse investors, with strong demand from central banks and official institutions as well as, pension funds, insurance companies and asset managers seeking high-credit quality assets to match their longer-term liabilities, the statement said.

Bank of America (BofA) Securities, Citi, JP Morgan, RBC Capital Markets were selected to run the books for the 10-year benchmark. The bond will be listed on the Luxembourg Stock Exchange.

The bond priced with a final spread to mid-swaps of +13 Basis Points (BP) and an equivalent annual yield of 1.278 per cent was announced on Monday with the books opened a day later.

"We are grateful for investors' support for this 10-year US dollar benchmark which helps to fund the World Bank's efforts to help our member countries respond to the immediate crisis and achieve their sustainable development goals," said Mr Jingdong Hua, Vice President and Treasurer, World Bank.

This was the issuer's second-largest USD 10-year deal size to date and the tightest mid-swap spread in the past three years for this tenor.

The World Bank has been issuing sustainable development bonds in the international capital markets for over 70 years to finance programmes that further the Sustainable Development Goals (SDGs).