Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Find Out

Skip to Main Navigation
PRESS RELEASE November 1, 1962

World Bank Arranges First Borrowings in Austria

The International Bank for Reconstruction and Development has arranged its first borrowings in Austria. They aggregate $10 million, all denominated in United States dollars, and consist of a public offering of $5 million 4-1/2% 15-year Bonds, and of placement of $5 million 4% 5-year Notes, due November 15, 1967, with the Oesterreichische National bank, the central bank of Austria. The new bonds are the first non-schilling issue to be publicly offered in the Austrian Market since 1930.

The public offering of the 4-1/2% Bonds will be made from November 12 through November 14, 1962, through a syndicate of twelve Austrian banks headed by oesterreichische Kontrollbank Aktiengesellschaft.

The new issue, to be known a s the 4-1/2% Fifteen-Year Bonds of 1962, will be offered at 102%, to yield about 4.33% to final maturity. The bonds will be dated November 15, 1962 and mature November 15, 1977. Interest will be payable semi-annually on May 15 and November 15 with the first payment due May 15, l963. The issue will be listed on the Vienna Stock Exchange.

A sinking fund has been provided for the bonds and begins operation on November 15, 1973 and is scheduled to retire the entire issue by maturity. The sinking fund redemption price is 100%.

The Bank may redeem in advance of maturity all or part of the issue on November 15 of each year on three months' notice.