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PRESS RELEASE November 16, 1973

World Bank Announces Public Offering of SKr 75 million 15-Year Bond Issue


An issue of Swedish Kronor 75,000,000 ($17.8 million) 7-1/4% Fifteen-Year Bonds of the International Bank for Reconstruction and Development (World Bank) will be offered in Sweden on November 16, 1973 by a group of eleven Swedish banks headed by Svenska Handelsbanken as manager. The Bonds will be offered at par.

The Bonds will be repayable at par beginning December 10, 1979 in ten annual installments of SKr 7,500,000 each, with a final maturity on December 10, 1988. The Bonds will not be callable, and interest will be payable semi-annually on each June 10 and December 10, the first payment being due June 10, 1974. The Bonds are exempt from all Swedish Stamp duties and will be listed on the Stockholm Stock Exchange.

This is the second public offering of World Bank Bonds in Sweden. The first issue of SKr 75,000,000 was placed in 1967.

The new borrowing operation in Sweden is welcomed by the World Bank as a further strengthening of World Bank's resources in support of its expanding assistance to developing countries.