The World Bank announced the completion of a public offering in the Italian market of an Italian Lire bond issue. This issue of Lit. 100 billion (US $51.2 million equivalent) will be dated February 2, 1985 and will mature on February 2, 1992. It carries a coupon of 12.50% per annum, payable annually, and an issue price of 98.25% of par. The yield to subscribing investors will be 12.89% on an annual basis. Application will be made to list the bonds at the Exchanges of Milan and Rome.
The issue was offered for public subscription by a syndicate composed of the principal Italian banks, managed by Mediobanca S.P.A. Subscriptions to the issue were closed on the first day of the offering, the amount of the issue having been fully placed with Italian investors.
This is the World Bank's third public offering of Italian Lire bonds, its most recent previous issue dating back to August 1972.