The International Bank for Reconstruction and Development (World Bank) has offered a private placement of Swiss Franc Notes in Switzerland through a syndicate of leading Swiss banks and a group of foreign banks domiciled in Switzerland. The banks have offered SwF 300 million (approximately US$114 million) of Notes. The Notes have been issued at 99.75%. The underwriting group is managed by Union Bank of Switzerland with Credit Suisse and Swiss Bank Corporation as co-managers.
The new private placement, to be known as the 5-1/2% Swiss Franc Notes of 1985, due 1991, will mature on February 15, 1991. Interest will be payable annually on February 15 to yield 5.48%.
This will be the thirty-fifth private placement of the World Bank in Switzerland and will bring the total amount of private placements placed in Switzerland by the World Bank to SwF 8,402 million. Following the full repayment of 13 issues, the principal amount of its outstanding 22 private placements, including the current issue, totals SwF 5,500 million.