The World Bank and a syndicate of German Banks headed by the Deutsche Bank A.G., as manager, and the Dresdner Bank A.G., as co-manager, signed today an agreement covering a new issue of World Bank Deutsche Mark Bonds. The principal amount of the issue is DM 250 million. The interest rate of the issue of 8-1/4%is payable annually on July 1. The Bonds will be publicly offered at 100%. The issue will be repaid at par on July 1, 1983 and will be non-callable.
The Bonds will be listed on all German Stock Exchanges.
The proceeds of this issue will be used in the general operations of the World Bank. Including this issue, the World Bank has publicly offered Deutsche Mark obligations in excess of DM 3.3 billion.