The World Bank signed today an agreement with the Deutsche Bank AG, Dresdner Bank AG, Commerzbank AG and Westdeutsche Landesbank Girozentrale for a private placement of Deutsche Mark Notes in the principal amount of DM 200 million. The interest rate on the Notes is 7.75% per annum, payable annually on December 15. The issue price is 99.75%. The Notes will be repaid at par on December 15, 1988 and will be non-callable.
The proceeds of the issue will be used in the general operations of the World Bank.
