The International Bank for Reconstruction and Development (World Bank) has offered a private placement of Swiss Franc Notes in Switzerland through a syndicate of leading Swiss banks and a group of foreign bans domiciled in Switzerland. The banks have offered SwF 250 million (approximately US$144.7 million} of Notes. The Notes have been issued at par. The underwriting group is managed by Credit Suisse with Swiss Bank Corporation and Union Bank of Switzerland as co-managers.
The new private placement is in two tranches. Tranche A for SwF 150 million, to be known as the 5-1/2% Swiss Franc Notes of 1983, due 1986, will mature on September 30, 1986. Interest will be payable annually on September 30. Tranche B for SwF 100 million, to be known as the 6% Swiss Franc Notes of 1983, due 1988, will mature on December 30, 1988. Interest will be payable annually on December 30.
This will be the thirtieth private placement of the World Bank in Switzerland and will bring the total amount of private placements placed in Switzerland by the World Bank to SwF 6,952 million. Following the full repayment of 11 issues, the principal amount of its outstanding 19 private placements, including the current issue, totals SwF 4,550 million.