The International Bank for Reconstruction and Development (World Bank) has signed today agreements for a Eurosterling issue in the amount of £100,000,000 through a syndicate of international financial institutions headed by Baring Brothers & Co., Limited as Lead Manager with Algemene Bank Nederland N.V., Barclays Merchant Bank Limited, County Bank Limited, Credit Lyonnais, Credit Suisse First Boston Limited, Deutsche Bank Aktiengesellschaft, Kleinwort, Benson Limited, Lloyds Bank International Limited, Merrill Lynch International & Co., Morgan Guaranty Ltd., Nomura International Limited, Samuel Montagu & Co. Limited, J. Henry Schroder Wagg & Co. Limited, and S. G. Warburg & Co. Ltd. as co-managers.
The bonds, which will mature on August 15, 1988, carry an interest rate of 11-1/8% per annum, payable annually on August 15. The bonds are issued at a price of 99.50%, payable on August 15, 1983. This results in an offering annual yield to investors of 11.26%.
The proceeds of this issue will be used in the general operations of the World Bank.