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

PRESS RELEASE January 17, 1974

World Bank Plans Public Offering of SwF 100 Million 15-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 January 18, 1974 by a syndicate of leading Swiss banks. The banks will offer SwF 100 million (approximately US$29.6 million equivalent) of 7% 15-year bonds. The bonds will be issued at par. The underwriting group is managed by the Swiss Credit Bank, with the Union Bank of Switzerland and the Swiss Bank Corporation as co-managers.

The new issue, to be known as the Emprunt en Francs Suisses 7% 1974-89, (7% Swiss Franc Bonds of 1974, due 1989), will be dated February 1, 1974 and will mature not later than February 1, 1989. In each of the years 1985 to 1988, up to SwF 20 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 February 1, 1984 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 February 1, with the first payment due on February 1, 1975. The issue will be listed on the stock exchanges at Zurich, Basle, Geneva, Berne and Lausanne.

This will be the twentieth 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 1,545 million. In addition, there have been nine private placements totaling SwF 1,212 million.

 


Api
Api