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PRESS RELEASE August 9, 1978

World Bank Plans Public Offering of a SwF 250 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 from August 15 to August 18, 1978 by a syndicate of leading Swiss banks. The banks will offer SwF 250 million of 4-1/4 % 15-year bonds. The bonds will be issued at 100-1/2%. The underwriting group is managed by 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 4-1/4% 1978-1993 (4-1/4% Swiss Franc Bonds of 1978, due 1993), will be dated September 15, 1978, and will mature on September 15, 1993. Interest will be payable annually on September 15, with the first payment due on September 15, 1979. Bonds are scheduled to be repurchased in the market in the nominal amounts of SwF 5 million per annum In the years 1981 through 1991 to the extent this can be done at or below par during the 60-day period preceding the coupon dates In those years. On and after September 15, 1988, the World Bank may redeem the entire issue at par on any Interest payment date on three months' notice. The Issue will be listed on the stock exchanges at Zurich, Baste, Geneva, Bern and Lausanne.

This will be the twenty-fifth 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 2,245 million. Following the full repayment of 10 issues, the principal amount of its outstanding 15 public issues, including the current issue, totals SwF 1,537 million.

 


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