The International Bank for Reconstruction and Development (World Bank) announced today its first Euro Canadian Dollar borrowing consisting of Can $75,000,000 (US$ 61 million equivalent) principal amount of 12-1/4% Seven Year Notes of 1983, due October 13, 1990. The issue was offered at par and is non-callable.
The borrowing was lead managed by Wood Gundy Limited, with Swiss Bank Corporation International 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 June 30, 1983, the Bank had approved loan commitments in an aggregate principal amount equivalent to about $90.8 billion to finance programs and projects in 100 countries.
