The International Bank for Reconstruction and Development (World Bank) signed today a Eurodollar borrowing consisting of $100,000 000 principal amount of 11.25% Five Year Notes of 1983, due August 4, 1988 and $150,000,000 principal amount of 11.50% Seven Year Notes of 1983, due August 4, 1990. The issues were offered at 99.75% and are non-callable.
The borrowing was lead managed by Deutsche Bank Aktiengesellschaft, with Credit Suisse First Boston Limited as co-lead manager, and in association with a group of thirteen co-managers.
The net proceeds to the World Bank from this borrowing will be used in the general operations of the Bank.
The International Bank for Reconstruction and Development, known as the World Bank, is headquartered in Washington, D.C. and has been in operation since June 1946. Its membership comprises 144 governments around the world. The principal purpose of the Bank is to promote the economic development of its member countries in the interest of fostering the long-term growth of international trade and improved standards of living. Its principal activity is providing loans for specific projects and related technical assistance. From its establishment to March 31, 1983, the Bank had approved loan commitments in an aggregate principal amount equivalent to about $84.5 billion to finance programs and projects in 100 countries.
