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PRESS RELEASE September 10, 1953

Black's Statement on Bond Issue

Eugene R. Black, President of the International Bank for Reconstruction and Development, today made the following statement:

“During recent weeks, the Bank has received inquiries from investors in the United States and elsewhere about whether it intends to issue a new dollar bond in the near future. I should like to say that we will be coming to the market with a $75 million issue of 3-year bonds on September 29. The interest rate will be determined in the light of conditions in the market at the time of the offering. The offering is designed to meet the demand, both in the United States and abroad, from institutional investors and commercial banks for high-grade bonds of short maturity. The Bank expects to sell the issue through an underwriting syndicate under the management of Morgan Stanley & Co. and The First Boston Corporation.”