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. Last Updated: 07/27/2016

World Bank Online

NEW YORK -- The World Bank sold $3 billion of notes in the largest global debt sale in which all bids and secondary trades could be processed online.

The bank Thursday received $5.1 billion in orders for the notes, the first it sold online, the bank's director of treasury finance Gumersindo Oliveros said.

More than 400 individual investors bought some of the five-year notes through co-underwriter Charles Schwab & Co.'s discount brokerage.

An official at co-lead manager Goldman Sachs & Co. said individual investors bought about $100 million of the notes, while smaller "middle market" insurance companies, banks and mutual and pension funds bought $500 million.