The International Bank for Reconstruction and Development (World Bank) has announced today a Eurosterling issue in the amount of £100,000,000 through a syndicate of international financial institutions headed by Baring Brothers & Co., Limited as lead manager with Algemene Bank Nederland N.V., Barclays Merchant Bank Limited, County Bank Limited, Credit Suisse First Boston Limited, Daiwa Europe Limited, Deutsche Bank Aktiengesellschaft, Hambros Bank Limited, Hill Samuel & Co. Limited, Kleinwort, Benson Limited, Lloyds Bank International Limited, LTCB International Limited, Morgan Grenfell & Co., Limited, Merrill Lynch International & Co., Morgan Guaranty Ltd., Orion Royal Bank Limited, Samuel Montagu & Co. Limited, Societe Generale, Union Bank of Switzerland (Securities) Limited, J. Henry Schroder Wagg & Co. Limited, and S. G. Warburg & Co. Ltd. as co-managers.
The bonds, which will mature on April 15, 1989, carry an interest rate of 10-5/8% per annum, payable annually on April 15. The bonds are issued at a price of 99.75%, payable on April 17, 1984. This results in an offering annual yield to investors of 10.69%.
The proceeds of this issue will be used in the general operations of the World Bank.