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PRESS RELEASE June 16, 1976

World Bank Plans Public Offering of SwF 100 Million 15-Year Bond Issue

An issue of Swiss Franc Bonds of the International Bank for Reconstruction and Development (World Bank) is planned for public offering in Switzerland on June 22, 1976 by a syndicate of leading Swiss banks. The banks will offer SwF 100 million (approximately US $39.94 million equivalent) of 6 ½ % 15-year bonds. The bonds will be issued at par. The underwriting group is managed by the Swiss Bank Corporation with the Swiss Credit Bank and the Union Bank of Switzerland as co-managers.

The new issue, to be known as the Emprunt en Francs Suisses 6 ½ % 1976-1991 (6 ½% Swiss Franc Bonds of 1976, due 1991), will be dated July 9, 1976, and will mature not later than July 9, 1991. 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 1982 to 1987 and SwF 10 million per annum in the years 1988 to 1990. On and after July 9, 1986, the World Bank may redeem the entire issue at par on any interest payment date on three months 1 notice. Interest will be payable annually on July 9, with the first payment due on July 9, 1977. The issue will be listed on the stock exchanges at Basle, Zurich, Geneva, Bern and Lausanne.

This will be the twenty-second 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 1,745 million. Following the full repayment of 10 issues, the principal amount of its outstanding 11 public issues, including the current issue, totals SwF 1,059 million.