Aritoshi Soejima, Director of the World Bank's Tokyo Office, signed agreements today in Tokyo in connection with a public issue of the Bank's bonds in Japan.
The agreements provide for an issue of 20 billion yen of 7% Fifteen-Year Bonds that will be offered in the Japanese market by a syndicate of underwriters headed by The Nomura Securities Co., Ltd., in association with a group of commissioned companies headed by The Industrial Bank of Japan, Limited.
The bonds will be offered at par. They are dated December 2, 1972, with a final maturity of December 2, 1987. The bonds will be redeemed at par in equal installments of ¥ 1.4 billion each from 1978 through 1986 with a final installment of ¥ 7.4 billion payable on December 2, 1987.
This is the World Bank's fifth public issue in the Japanese market. Total funds raised by the World Bank in Japan, including the issue announced today, will amount to¥ 335 billion (equivalent to approximately $ 1.1 billion at current exchange rates), including ¥ 257 billion borrowed from The Bank of Japan and ¥ 78 billion borrowed in the Japanese investment market.