WB fund for poorest countries issues $1.5 billion bond

The World Bank fund dedicated to helping the world's poorest countries on Tuesday announced it has raised $1.5 billion in its first-ever global bond issue, which enjoyed huge demand from investors. The International Development Association (IDA) issued a five-year AAA-rated bond which had nearly five times more demand than the amount initially offered for sale, the World Bank said in a statement. "Today's bond issue will allow IDA to tap into the power of capital markets to tackle some of the world's biggest challenges and help millions lift themselves out of poverty," World Bank President Jim Yong Kim said in a statement.
Over 40 percent of the bonds went to central banks, while a quarter went to banks and another quarter to pension funds.