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PRESS RELEASE October 22, 1968

World Bank Plans Public Offering of SwF 80 Million 16-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 October 24, 1968 by a syndicate of leading Swiss banks. The banks will offer SwF 80 million (approximately $18.6 million equivalent) of 5-1/4% 16-year bonds. The bonds will be issued at 99% of par. 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 5-1/4% 1968, Emission de Novembre (5-1/4% Swiss Franc Bonds of 1968, November Issue), will be dated November 25, 1968 and will mature November 25, 1984. On and after November 25, 1980 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 1 notice in case of total redemption. Interest will be payable annually on November 25, with the first payment due on November 25, 1969. The issue will be listed on the stock exchanges at Zurich, Basle, Geneva, Bern and Lausanne.

This will be the fifteenth public issue of the World Bank in Switzerland and will bring the total amount of public issues placed in Switzerland by the World Bank to SwF 995 million. In addition, there have been seen private placements totaling SwF 462 million, of which four, totaling SwF 383 million, were transactions with the Government of Switzerland. To September 30, 1968 the World Bank had retired SwF 566 million of these issues and placements, leaving outstanding at that date bonds and notes in Swiss francs amounting to approximately SwF 811 million (approximately $189 million equivalent).