The World Bank and a syndicate of German Bank headed by the Deutsche Bank AG, as principal manager, and the Dresdner Bank AG, the Commerzbank AG and the Westdeutsche Landesbank Girozentrale as co-managers, signed today an agreement covering a new Issue of DM 400 million. The Interest rate of the Bonds is 6½% per annum, payable annually on May 1. The Bonds will be offered publicly at 99.50%. The Bonds will be repaid at par on May 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 Hark obligations aggregating about DM 4.92 billion since 1959.
In addition, the World Bank signed today an agreement with the Deutsche Bank AG and the Dresdner Bank AG for a private placement of Deutsche Mark Notes in the principal amount of DM 100 million. The Interest rate on the Notes is 6½% per annum, payable annually on May 1. The Notes will be repaid at par on May 1, 1985 and will be non-callable.
The proceeds of these two Issues will be used In the general operations of the World Bank.