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PRESS RELEASE March 28, 1973

World Bank Plans SwF 100 Million 18-Year Bond Issue

An issue of Swiss Franc Bonds of the International Bank for Reconstruction and Development (World Bank) is planned for public offering in Switzerland on April 2, 1973 by a syndicate of leading Swiss banks. The banks will offer SwF 100 million (approximately US$ 30.8 million equivalent) of 6% 18-year bonds. The bonds will be issued at par. The underwriting group is managed by the Swiss Bank Corporation, with Swiss Credit Bank and the Union Bank of Switzerland as co-managers.

The new issue, to be known as the Emprunt en Francs Suisses 6% 1973-91 (6% Swiss Franc Bonds of 1973, due 1991), will be dated April 30, 1973 and will mature not later than April 30, 1991. In each of the years 1987 to 1991, up to SwF 15 million nominal amount of the bonds are scheduled to be repurchased in the market, but only to the extent that the bonds can be repurchased at or below par during the 60-day period preceding the coupon date. On and after April 30, 1983 the World Bank may redeem the entire issue at par on any interest payment date on three months’ notice. Interest will be payable annually on April 30, with the first payment due on April 30, 1974. The issue will be listed on the stock exchanges at Basle, Zurich, Geneva, Berne and Lausanne.

This will be the nineteenth public issue of the World Bank in Switzerland and will bring the total amount of public issues placed in Switzerland by the World Bank to SwF 1,445 million. In addition, there have been eight private placements totaling SwF 762 million, of which four, totaling SwF 383 million, where transactions with the Government of Switzerland. To February 28, 1973 the World Bank had retired SwF 936 million of these issues and placements leaving outstanding at that date bonds and notes 1n Swiss francs amounting to approximately SwF 1,171 million.