The World Bank announced today that it has signed an agreement in Beirut in connection with an issue of the Bank’s Bonds in Lebanon.
The agreement provides for an issue of 75 million Lebanese Founds of 6 7/8% Five-Year Bonds. The Bonds will be dated January 22, 1973 and will mature on January 22, 1978. The Bonds will be dated January 22, 1973 and will mature on January 22, 1978. The Bonds have been offered to commercial banks in Beirut for subscription at par.
The proceeds of the issue will be convertible into other currencies and will be used in the general operations of the World Bank.
The issue is the first offering of World Bank Bonds in Lebanon.
