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.