A Swiss Franc Bond issue of SwF 200 million (US$89.3 million equivalent) of the International Bank for Reconstruction and Development (World Bank) is being offered for public subscription in Switzerland by a syndicate of leading Swiss banks and a group of foreign banks based in Switzerland. The ten-year Bonds carry a coupon of 5-3/4 % p.a. and will be issued at 99.50% of par. The yield to investors will be 5.74% per annum on a semi-annual equivalent basis. The underwriting group is managed by Credit Suisse with Union Bank of Switzerland and Swiss Bank Corporation as co-managers.
The new issue will mature on February 15, 1994. Interest will be payable annually on February 15, with the first payment due on February 15, 1985. Application will be made to list the issue on the stock exchanges of Basle, Zurich, Geneva, Berne and Lausanne.
This will be the forty-fourth public issue of the World Bank in Switzerland and will bring the total amount of public issues placed there by the Bank to SwF 4,445 million. Following the full repayment of 13 issues, the principal amount of its outstanding 31 public issues, including the current issue, totals SwF 3,520 million.
