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PRESS RELEASE April 17, 1984

World Bank Announces Floating Rate Note Borrowing in US Market

The International Bank for Reconstruction and Development (World Bank) today announced a $150 million floating rate note (FRN) five-year issue, its first FRN issue in the U.S. domestic market. The issue is managed by The First Boston Corporation.

The FRN is priced at a spread of 50 basis points (hundredths of one percent) over 91-day U.S. Treasury Bills. Interest is payable quarterly.

This issue, along with a $250 million FRN issued in the Eurodollar market in February 1984, brings the Bank's FRN borrowings to $400 million out of expected borrowings of about $10 billion in fiscal 1984. No further FRN borrowings are anticipated by the Bank for this fiscal year which ends June 30, 1984.

 


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