The World Bank announced the placement of a $350,000,000 Issue of U.S. dollar Bonds in markets outside the United States. The Bonds, offered to central banks, other governmental institutions and international organizations, were purchased by 66 subscribers. Such purchasers now hold $1,350,000,000 of World Bank Two-Year Bonds.
The new World Bank Bonds, known as "Two-Year Bonds of 1978, due September 15, 1980” bear interest at 8.35% per annum, payable semiannually and will mature on September 15, 1980. The Issue was sold at par.
The new Bonds were delivered on September 15, 1978. An Issue in the aggregate principal amount of $350,000,000 placed outside the United States with similar purchasers in September 1976 matured on September 15, 1978.