The World Bank signed today an agreement with the Westdeutsche Landesbank Girozentrale for a private placement of Deutsche Mark Notes in the principal amount of DM 150 million. The interest rate on Notes is 8% per annum, payable annually on May 24. The Notes will be repaid at pair on May 24, 1989 and will be non-callable. Westdeutsche Landesbank Girozentrale will place the Notes in the savings banks sector.
The proceeds of the issue will be used in the general operations of the World Bank.
