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PRESS RELEASE January 14, 1971

World Bank Announces Public Offering of $200 Million 5-Year Note Issue

"The First Boston Corporation, Morgan Stanley & Co., Incorporated and Salomon Brothers as managers of a nationwide underwriting group announced the public offering of $200 million International Bank for Reconstruction and Development (World Bank) 6-1/2% 5-year notes, due January 15, 1976 at a price of 100%. The notes may not be redeemed prior to maturity.

"Proceeds to the Bank of the sale of the notes will be used in the general operations of the Bank.

"The notes being offered are not subject to the Interest Equalization Tax. The guidelines for banks and non-bank financial institutions, issued by the Federal Reserve System, place no restraint on purchases of the notes.

"The International Bank for Reconstruction and Development is an international institution, the members of which are governments now numbering 115. Its principal purpose is to assist the economic development of its member countries by facilitating the investment of capital for productive purposes, thereby promoting the long-range growth of international trade and the improvement of standards of living; to promote private foreign investment; and, when private capital is not available on reasonable terms, to supplement private investment by making loans for productive purposes out of its own resources or funds borrowed by it."

 


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