An issue of Swiss Franc Bonds of the International Bank for Reconstruction and Development (World Bank) is planned for public offering in Switzerland on November 5, 1975, by a syndicate of leading Swiss banks. The banks will offer SwF 100 million (approximately US $38.1 million equivalent) of 7-3/4% 15-year bonds. The bonds will be issued at par. The underwriting group is managed by the Union Bank of Switzerland with the Swiss Bank Corporation and the Swiss Credit Bank as co-managers.
The new issue, to be known as the Emprunt en Francs Suisses 7-3/4% 1975-1990 (7-3/4% Swiss Franc Bonds of 1975, due 1990), will be dated November 17, 1975, and will mature not later than November 17, 1990. To the extent that bonds can be repurchased at or below par during the 60-day period preceding the coupon date, bonds are scheduled to be repurchased in the market in the nominal amounts of SwF 5 million per annum in the years 1981 to 1986 and SwF 10 million per annum in the years 1987 to 1989. On and after November 17, 1985, 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 November 17, with the first payment due on November 17, 1976. The issue will be listed on the stock exchanges at Zurich, Basle, Geneva, Berne and Lausanne.
This will be the twenty-first 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 1,645 million. In addition, there have been eleven private placements totaling SwF 1,495 million, of which four, totaling SwF 383 million, were transactions with the Government of Switzerland. The World Bank has retired SwF 1,117 million of these issues and placements, leaving outstanding at this date bonds and notes in Swiss francs amounting to approximately SwF 1,923 million.
