The World Bank and a syndicate of German banks headed by the Deutsche Bank AG, as manager, and the Dresdner Bank AG, the Commerzbank AG and the Westdeutsche Landesbank Girozentrale as co-managers yesterday signed an agreement covering the issuance of DM 200 million of 6-year Deutsche Mark bonds at an interest rate of 5-3 / 4% per annum priced at 99.50% and DM 200 million of 10-year Deutsche Mark bonds at an interest rate of 6% per annum priced at 98%. Both issues will be non-callable.
The Bonds will be listed on all German Stock Exchanges.
In addition, the World Bank signed today an agreement with a consortium of seven German banks for a Deutsche Mark loan in the principal amount of DM 500 million maturing on August 1, 1983.
The proceeds of the three borrowings will be used in the general operations of the World Bank.