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PRESS RELEASE September 16, 1965

World Bank Sells $100 Million 2-Year Bond Issue

The World Bank has arranged the sale, entirely outside the United States, of a $100 million issue of United States dollar bonds. The sale, at par, was made by private placement with central banks and other governmental institutions in 29 countries.

The new bonds will be known as the "Two-Year Bonds of 1965", and will bear interest of 4-3/8%, payable semi-annually, with the first payment due March 15, 1966. The issue is dated September 15, 1965 and matures September 15, 1967.

The countries where the new bonds were sold are:

Algeria        Germany        Libya         Spain

Australia      Iceland        Mexico         Switzerland

Austria        India            Nigeria        Thailand

Burma        Iran             Norway         Viet-Nam

China          Iraq            Paraguay      Yugoslavia

Denmark        Italy        Philippines

Ethiopia      Japan         Saudi Arabia

France         Jordan        South Africa


Completion of the current transaction will not affect the total of the Bank's outstanding funded debt, as an equal amount of Two-Year 4% Bonds, placed outside the United States in September 1963, will mature on September 15, 1965. The total outstanding obligations of the Bank amount to more than $2.7 billion of which about $2 billion is denominated in United States dollars and more than $730 million in Belgian francs, Canadian dollars, Deutsche mark, Italian lire, Netherlands guilders, Pounds sterling and Swiss francs.

About 57% of the Bank's outstanding debt is held by investors outside the United States. Included in the holdings of these investors, in addition to non-dollar obligations, are more than $800 million of the dollar bonds and notes of the Bank, or about 41% of its total United States dollar obligations.