The International Bank for Reconstruction and Development today announced the placement of an issue of 7¼ % French Franc Bonds of 1972, due 1987. The principal amount of the issue is French francs 150,000,000, repayable in four annual instalments of F 7.5 million from 1977 to 1980, six annual instalments of F 15 million from 1981 to 1986 and one instalment of F 30 million in 1987. Interest is payable annually on June 15, with the first interest payment due June 15, 1973. The Bonds will be listed on the Luxembourg Stock Exchange.
The Bonds were placed on the Euro-market, at 99,75% of par, by a syndicate of banks managed by M.M. Lazard Freres & Cia as well as the Banque de Paris et des Pays-Bas, the Credit Lyonnais, the Banque Nationals de Paris, the Societe Generale and the Credit Commercial de France.