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World Bank Plans Public Offering of SwF 65 Million 15-Year Bond Issue

An issue of Swiss franc bonds of the International Bank for Reconstruction and Development (World Bank) is planned for public offering in Switzerland on May 9, 1968 by a syndicate of leading Swiss banks. The banks will offer at par Sw. F 75 million (approximately $17.5 million) of 5-1/4% 15-year bonds. The Swiss Credit Bank, the Union Bank of Switzerland and the Swiss Bank Corporation head the underwriting group.

The new issue, to be known as the Emprunt en Francs Swisses 5-1/4% de 1968 Bonds of 1968), will be dated May 31, 1968 and will mature sinking fund will begin on May 31, 1979 and will retire the entire issue in five equal annual installments. On and after May 31, 1977 the World Bank may redeem all or part of the issue at par on any interest payment date on 45 days’ notice in case of partial redemption and three months' notice in case of total redemption. Interest will be payable annually on May 31, with the first payment due on May 3, 969. The issue will be listed on the stock exchanges at Zurich, Basle, Geneva, Berne and Lausanne.

This will be the fourteenth public issue of the World Bank in Switzerland will bring the total amount of public issues placed in Switzerland by the World Bank to s F 915 million. In addition, there have been seven private placement totaling Sw. F 462 million, of which four, totaling Sw. F 383 million, were transactions with the Government of Switzerland. To April 30, 1968 the World Bank had retired Sw. F 498 million of these issues and placements, leaving outstanding at that date bonds and notes in Swiss francs amounting to approximately Sw. F 804 million (approximately $187 million).