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PRESS RELEASE May 31, 1971

World Bank Plans Public Offering of SwF 75 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 June 9, 1971 by a syndicate of leading Swiss banks. The banks will offer SWF 75 million (approximately US$18.4 million equivalent) of 6-1/2% 15-year bonds. The bonds will be issued at par. 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 Suisses 6-1/2% 1971-86 (6-1/2% Swiss Franc Bonds of 1971, due 1986), will be dated July 1, 1971 and will mature not later than July 1, 1986. In each of the years 1982 to 1985, up to SwF 15 million nominal amount of the bonds are scheduled to be repurchased in the market, but only to the extent that the bonds can be repurchased at or below par during the 60-day period preceding the coupon date. On and after July 1, 1981 the World Bank may redeem the entire issue at par on any interest payment date on three months' notice. Interest will be payable annually on July 1, with the first payment due on July 1, 1972. The issue will be listed on the stock exchanges at Zurich, Basle, Geneva, Berne and Lausanne.

This will be the seventeenth public issue of the World Bank in Switzerland and will bring the total a100unt of public issues placed in Switzerland by the World Bank to SwF 1,145 million. In addition, there have been seven private placements totaling SwF 462 million, of which four, totaling SwF 383 million, were transactions with the Government of Switzerland. To April 30, 1971 the World Bank had retired SwF 705 million of these issues and placements, leaving outstanding at that date bonds and notes in Swiss Francs amounting to approximately SwF 827 million (approximately US$ 192 million equivalent).