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PRESS RELEASE October 25, 1984

World Bank Borrowing DM 400 Million

An agreement covering a World Bank DM 400 million bond issue (about $129 million) was signed today with a syndicate of German banks. The issue bears interest at the rate of 7-5/8% per annum, payable annually on November 1, 1994, and will be offered publicly at 99.75. The yield to investors will be 7.66%. The bonds will be repaid at par on November 1, 1994, and will be non-callable.

The syndicate for this 48th public issue of the World Bank in the German capital markets is headed by the Deutsche Bank AG, as manager, and the Dresdner Bank AG, the Commerzbank AG, and the Westdeutsche Landesbank Girozentrale, as co-managers. The bonds will be listed on all German stock exchanges.

The proceeds of this issue will be used in the general operations of the World Bank.

Including this issue, the World Bank's outstanding Deutsche Mark obligations, consisting of both public and private borrowings, total DM 21.9 billion (approximately $7.0 billion at current exchange rates).

 


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