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 DM 250 million. The interest rate is 7 percent per annum, payable annually on January 1. The Bonds will be offered publicly at 99.00 percent. The Bonds will be repaid at par on January 1, 1987 and will be non-callable.
The Bonds will be listed on all German Stock Exchanges. Including this issue, the World Bank has offered publicly Deutsche mark obligations aggregating about DM 4.52 billion since 1959.
The proceeds of this issue will be used in the general operations of the World Bank.