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PRESS RELEASE December 18, 1984

World Bank Announces Public Issue of Austrian Schilling 900 Million 10-Year Bonds

The World Bank announced today its third public issue in Austrian Schillings, a new bond issue of AS 900 million (approximately US$42 million equivalent). The interest rate of the bonds is 8.25% per annum, payable annually on December 28. They will be offered publicly at 100.25%, and will yield 8.05%.

The bonds, which have a final maturity of 10 years, will be listed on the Vienna Stock Exchange.

An agreement for the new issue was signed today by the World Bank and a syndicate of Austrian banks headed by the Creditanstalt-Bankverein, as manager, and the Girozentrale und Bank der Oesterreichischen Sparkassen Aktiengesellschaft and Oesterreichische Landerbank Aktiengesellschaft, as co-managers.

The proceeds of this issue will be used in the general operations of the International Bank for Reconstruction and Development, commonly known as the World Bank. This brings to AS 2,500 million the total of World Bank borrowings from public issues in Austrian Schillings.