A guilder bond issue of the International Bank for Reconstruction and Development will be offered for public subscription in the Netherlands on June 12, 1962, by a syndicate of Dutch banks. The banks will offer f 40,000,000 (approximately $11 million) of 4½% 20-year bonds at a price of 99½ to the public. The Netherlands Trading Society (Nederlandsche Handel-Maatschappij, 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 4½% Netherlands Guilder Bonds of 1962 will be dated July 15, 1962 and the final maturity will be July 15, 1982. It will be non-callable until July 15, 1973. Beginning on July 15, 1973, the issue will be retired at par in ten equal annual instalments of f 4, 000,000 each. The bonds will also be subject to redemption in 'Whole or in part at 101½% from July 15, 1973 through July 14, 1977 and thereafter at 101%.
This is the fourth public offering of World Bank bonds in the Netherlands. Two issues of f 40,000,000 each were offered in 1954 and 1955, and one issue of f 50,000,000 was offered in 1961. Giving effect to the current offering, outstanding guilder bonds of the World Bank will amount to f 53 million, equal to about $42 million. Total outstanding funded debt of the Bank on March 31, 1962 was equivalent to $2,527,949,542 of which roughly 55% was held by investors outside the United States. Included in outstanding obligations were $1,902,728,000 of bonds and notes denominated in U.S. dollars and the equivalent of $625,221,542 denominated in other currencies.