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PRESS RELEASE May 18, 1961

World Bank Offers Guilder Bond Issue for Public Subscription

A guilder bond issue of the International Bank for Reconstruction and Development will be offered for public subscription in the Netherlands on May 29, 1961 by a syndicate of 13 Dutch banks. The banks will offer at par f 50,000,000 (approximately $13,800,000) of 4-1/2 % 20-year bonds. The Netherlands Trading Society (Nederlandsche Handel-Maa.tschappij, N.V.) heads the underwriting group, as it has done on previous public offerings of the World Bank on the Netherlands market.

The new issue of 4-1/2 % Netherlands Guilder Bonds of 1961 will be dated June 15, 1961, and the final maturity will be June 15, 1981. It will be non-callable until June 15, 1972. Beginning on June 15, 1972, the issue will be retired at part in ten equal annual installments of f 5,000,000 each. The bonds will also be subject to redemption in whole or in part at 101-½% from June 15, 1972 through June 14, 1976 and thereafter at 101%.

This is the third public offering of World Bank bonds in the Netherlands. Two issues of f 40,000,000 each were offered in 1954 and 1955. Giving effect to the current offering, outstanding guilder bonds of the World Bank will amount to f 119,360,000 equal to about $33,000,000. Total outstanding funded debt of the Bank on March 31, 1961 was the equivalent of $2,182,046,336, including $1,702,006,000 of U.S. dollar bonds and notes and the equivalent of $480,040,336 in obligations denominated in currencies other than U.S. dollars.