The International Bank for Reconstruction and Development (World Bank) signed today a U.S. dollar borrowing from investors in Asia and the Middle East in a public offering of $100,000,000 principal amount of 12-5/8% Seven-Year Notes of 1984, due August 23, 1991. The issue was offered at 99.75% and is non-callable. The yield to subscribing investors will be 12.68%.
The borrowing was lead managed by The Nomura Securities Co., Ltd. in association with a group of 15 co-managers.
The net proceeds to the World Bank from this borrowing will be used in the general operations of the Bank.
The World Bank is headquartered in Washington, D.C. and has been in operation since June 1946. Its membership comprises 146 governments around the world. The principal purpose of the Bank is to promote the economic development of its member countries in the interest of fostering the long-term growth of international trade and improved standards of living. Its principal activity is providing loans for specific projects and related technical assistance. From its establishment to June 30, 1984, the Bank had approved loan commitments in an aggregate principal amount equivalent to about $102.8 billion to finance programs and projects in 102 countries.
