The World Bank announced today that it has signed an agreement with the Deutsche Genossenschaftskasse--Zentralbank der GenossenschaftenFrankfurt/Main for a private placement of Deutsche Mark Notes in the principal amount of DM 150 million. The Notes will carry interest at the rate of 8-1/4% payable annually on June 15. The Notes will be repaid at par in four equal installments of DM 37,500,000 on June 15 in each of the years 1979, 1981, 1983 and 1985. The proceeds of this placement will be used in the general operations of the World Bank.
