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PRESS RELEASE April 16, 1965

World Bank Plans Public Offering of a SwF 60 Million 18-Year Bond Issue

A Swiss franc issue of Bonds of the International Bank for Reconstruction and Development (World Bank) is planned for public offering in Switzerland on April 21, 1965 by a syndicate of leading Swiss banks. This will be the first issue by the World Bank in Switzerland since January 1962. The banks will offer at par Sw. F 6o million (approximately $14 million) of 4-3/4% 18-year bonds. The Union Bank of Switzerland, the Swiss Bank Corporation and the Swiss Credit Bank head the underwriting group.

The new issue, to be known as the Emprunt en Francs Suisses 4-3/4% de 1965 (4-3/4% Swiss Franc Bonds of 1965), will be dated May 15, 1965 and will mature May l5, 1983. On and after May 15, 1977, the World Bank may redeem all or part of the issue on any interest payment date on 45 days’ notice in case of partial redemption and three months' notice for total redemption. Interest will be payable annually on May 15, with the first payment due on May 15, 1966. The issue will be listed on the stock exchanges at Zurich, Basle, Geneva, Berne and Lausanne.

This is the twelfth public issue of the World Bank in Swiss francs. The eleven previous issues totaled Sw. F 720 million. In addition, there have been five private placements by the World Bank in Switzerland totaling Sw. F 379 million of which three, totaling Sw. F 333 million, were transactions with the Government of Switzerland. To March 31, 1965 the World Bank had retired Sw. F 352 million of these issues leaving outstanding bond and note issues in Swiss francs amounting to approximately Sw. F 747 million (approximately $174 million).