The World Bank signed today an agreement with the Bayerische Landesbank Girozentrale and a consortium of European Savings Banks for a private placement of Deutsche Mark Notes in the principal amount of DM 200 million (approximately US$68.6 million equivalent). The interest rate on the Notes is 7-3/8% per annum, payable annually on December 1. The issue price is 100 percent. The Notes will be repaid at par on December 1, 1991 and will be non-callable.
The proceeds of the issue will be used in the general operations of the World Bank.
