Eugene H. Rotberg, Treasurer of the World Bank, signed agreements today in Tokyo authorizing a public issue of the Bank's bonds in Japan.
The documents authorize an issue of 15 billion yen of 7.40% Ten-Year Bonds that will be offered in the Japanese market by a syndicate of underwriters headed by The Daiwa Securities Co. Ltd., in association with a group of commissioned banks headed by The Industrial Bank of Japan, Limited.
The bonds will be offered at 99.5% of par. They are dated February 18, 1972, with a final maturity of February 18, 1982. The bonds will be redeemed at par in equal installments of ¥1.5 billion each from 1978 through 1981 with a final installment of ¥9 billion payable on February 18, 1982.
This is the World Bank's third public issue in the Japanese market. The first was offered in June 1971 and amounted to ¥11 billion of 7 3/ 4% Ten-Year Bonds offered at 99.5% of par; and the second was offered in September 1971 and amounted to ¥12 billion of 7.50% Ten-Year Bonds offered at 99.5% of par.
Total funds raised by the World Bank in Japan, including the issue announced today, will amount to ¥195 billion (equivalent to approximately $633 million at current central exchange rates), including ¥157 billion borrowed from The Bank of Japan and ¥38 billion borrowed in the Japanese investment market.
