The World Bank and a syndicate of German Banks headed by the Deutsche Bank AG, as manager, and the Dresdner Bank AG, as co-manager, signed today an agreement covering a new issue of World Bank Deutsche Mark Bonds. The principal amount of the issue is OM 300 million. The interest rate of the issue of 7½% is payable annually on May 1. The Bonds will be publicly offered at 100%. The issue will be repaid at par on May 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 4 billion since 1959.