The World Bank priced a two-year A$110 million bond issue with a 2.2% coupon on August 23 through lead manager Commonwealth Bank of Australia (CBA) to yield 2.251%.
It had mandated the deal two weeks earlier and the issuer and lead manager had spent the intervening time consulting with investors to ensure a high-quality order book.
These primary buyers eventually included superannuation fund First State Super, New South Wales Treasury Corporation, asset manager Northern Trust, leading domestic insurance company QBE, South Australian Government Financing Authority and Treasury Corporation of Victoria.
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