The International Bank for Reconstruction and Development (World Bank} signed today a Eurodollar borrowing consisting of $200,000,000 principal amount of 12-7/8% Ten-Year Notes of 1984, due September 5, 1994. The issue was offered at par and is non-callable.
The borrowing was lead managed by the Deutsche Bank Aktiengesellschaft, and Credit Suisse First Boston, Merrill Lynch International & Co., Morgan Guaranty Ltd., Salomon Brothers International, Swiss Bank Corporation International Limited and Union Bank of Switzerland (Securities) Limited as co-lead managers and Algemene Bank Nederland N.V., Banque Paribas, Goldman Sachs International Corp., Morgan Stanley International, Nomura International Limited, Orion Royal Bank. Limited, Societe Generale, Societe Generale de Banque S. A. and S.G. Warburg & Co. Ltd. as 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 147 countries. 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. From its establishment to June 30, l984 the Bank had approved loan commitments in an aggregate principal amount equivalent to about $102.8 billion to finance projects and programs in 102 countries.