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PRESS RELEASE November 24, 1970

World Bank Announces 60 Million Guilder Bond Issue

A guilder bond issue of the International Bank for Reconstruction and Development will be offered for public subscription in the Netherlands on December 3, 1970 by a syndicate of Dutch banks. The banks will offer f. 60,000,000 (approximately $16.6 million equivalent) of 8-1/4% Fifteen Year Bonds at a price to be announced on November 30. The General Bank of the Netherlands (Algemene Bank Nederland N.V.) heads the underwriting group as it has done for previous public offerings of the World Bank on the Netherlands market.

The new issue of Netherlands Guilder Bonds of 1971, due 1982/1986 will be dated January 1, 1971 and will have a final maturity of January 1, 1986. Beginning January 1, 1982, the issue will be retired at par in five annual installments of f.12,000,000 each. The bonds to be repaid will be drawn by lot. Total or partial redemption prior to maturity is not permitted. Application will be made to list the Bonds on the Amsterdam Stock Exchange.

This will be the sixth public offering of World Bank bonds in the Netherlands. Giving effect to the current offering, outstanding guilder bonds of the World Bank will amount to f.203 million, (about $56 million equivalent). Total outstanding funded debt of the Bank amounts to about the equivalent of $4.9 billion of which approximately 63% is held by investors outside the United States.

 


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