Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Find Out

PRESS RELEASE February 2, 1973

World Bank Signed Agreements for a 10 Billion Japanese Yen 10-Year Note Issue

Eugene H. Rotberg, Treasurer of the World Bank, signed agreements in Tokyo today for a private placement issue of ¥10,000,000,000 Japanese Yen Notes of 1973, Series A with thirteen financial institutions. The placement was arranged by The Industrial Bank of Japan, Limited (as Managing Bank) and The Sumitomo Trust and Banking Company, Limited. The financial institutions participating in the placement are:

The Industrial Bank of Japan, Limited; The Sumitomo Trust and Banking Company, Limited; The Bank of Tokyo, Ltd.; The Long-Term Credit Bank of Japan, Limited; "The Mitsubishi Bank, Limited; The Mitsui Trust and Banking Company, Limited; The Mitsubishi Trust and Banking Corporation;

The Yasuda Trust and Banking Company, Limited; National Federation of Credit Associations; The Chuo Trust and Banking Company, Limited; The Toyo Trust and Banking Company, Limited; The Central Cooperative Bank for Agriculture and Forestry; and The Nippon Trust and Bank Co., Ltd.

The interest rate on the Notes is 6.9% per annum payable semi-annually. The Notes will be dated February 3, 1973 and will have a final maturity of February 3, 1983. They will be redeemed at par in four equal annual installments of ¥ 1,000,000,000 on February 3 in each of the years from 1979 through 1982, and one installment of ¥6,000,000,000 on February 3, 1983. The Notes were placed at 99.25% providing a yield of 7.02% to the purchasers.

This is the first private placement from this source of funds in Japan by the World Bank. Total funds raised by the World Bank in Japan, including this Note Issue, will amount to ¥345 billion (equivalent to approximately $1.12 billion at current exchange rates).

 


Api
Api