A ¥30 billion (approximately US$129.2 million) public offering of bonds of the International Bank for Reconstruction and Development (World Bank) was announced in Tokyo today. The 7.70% Twelve Year Bonds of 1984 Twenty-Seventh Series, are priced at 99.50%. They will have a final maturity of July 11, 1996 and will be redeemed at par in six equal installments of ¥2.4 billion in each of the years 1990 through 1995 and one final installment of ¥15.6 billion in 1996. The yield to subscribing investors will be 7.77%.
The offering is being made through a syndicate of securities firms headed by The Daiwa Securities Co. Ltd. in association with a group of commissioned companies headed by The Industrial Bank of Japan, Limited.
Mr. Koji Kashiwaya, Director of the Tokyo Office of the World Bank who signed the agreements for the issue in Tokyo on July 4, on behalf of the Bank, expressed the Bank's appreciation for this further demonstration of support from the Japanese authorities and the investing public towards the development efforts of the World Bank.
Total funds raised by the World Bank denominated in Japanese Yen, including the present issue, amount to ¥2,591 billion (approximately US$11.2 billion at current exchange rates) of which ¥1,986 billion (approximately US$8.6 billion), remain outstanding, including the issue announced today.