A $150 million Eurodollar borrowing consisting of 12-1/4% notes, due November 20, 1994 was announced today by the International Bank for Reconstruction and Development (World Bank). 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 Limited, Goldman Sachs International Corp., Morgan Guaranty Ltd, Morgan Stanley Internationa1, Swiss Bank Corporation International Limited and Union Bank of Switzerland (Securities) Limited as co-lead managers and Algemene Bank Nederland N.V., Banque Nationale de Paris, Banque Paribas, Daiwa Europe Limited, Merrill Lynch International & Co., Orion Royal Bank Limited, Salomon Brothers International Limited, 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 148 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. Its principal activity in 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.