The World Bank announced today that it has signed an agreement with the Bayerische Landesbank, Girozentrale, for a private placement of Deutsche Mark Notes in the principal amount of DM 200 million. The Notes will carry interest at the rate of 6 1/8%, payable annually on December 1. The Notes will be repaid at par on December 1, 1985.
The proceeds of this placement will be used in the general operations of the World Bank. The Notes will essentially be placed with savings banks in Bavaria.