The World Bank announced the placement of a $350,000,000 Issue of U.S. dollar Bonds maturing March 15, 1978 in markets outside the United States. The Bonds were purchased by central banks and other governmental institutions of 64 countries and by one international organization. Such purchasers now hold $1,140,000,000 of World Bank Two-year Bonds.
The new World Bank Bonds, known as "Two-Year Bonds of 1976, due March 15, 197811 bear interests at 7% per annum, payable semi-annually. The Issue was sold at par.
The new Bonds were delivered on March 15, 1976. An Issue in the aggregate principal amount of $257,700,000 placed outside the United States with similar purchasers in March 1974 matured on March 15, 1976.