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The World Bank (International Bank for Reconstruction and Development

In Milestone for SOFR Market World Bank Prices Longest Floating Rate Benchmark

2 mins read

The FINANCIAL -- The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) priced a new USD 600 million 10-year benchmark bond linked to the Secured Overnight Financing Rate (SOFR) index. This 10-year benchmark adds investors and liquidity to the SOFR market, and marks a milestone in the development of robust alternatives to US dollar London Inter-Bank Offered Rate (LIBOR).…

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In Milestone for SOFR Market World Bank Prices Longest Floating Rate Benchmark

2 mins read

The FINANCIAL -- The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) priced a new USD 600 million 10-year benchmark bond linked to the Secured Overnight Financing Rate (SOFR) index. This 10-year benchmark adds investors and liquidity to the SOFR market, and marks a milestone in the development of robust alternatives to US dollar…