A Swiss franc bond issue of SwF 200 million (US$70.7 million equivalent) of the International Bank for Reconstruction and Development (The World Bank) is being offered for public subscription in Switzerland by a syndicate comprised of leading Swiss banks and a number of foreign banks based in Switzerland. The ten-year bonds carry a coupon of 6.0% per annum and will be issued at par. The underwriting group is managed by Union Bank of Switzerland with Swiss Bank Corporation and Credit Suisse as co-managers.
The new issue will mature on March 22, 1995. Interest will be payable annually on March 22, with the first payment due on March 22, 1986. Application will be made to list the bonds on the stock exchanges of Basle, Zurich, Geneva, Berne and Lausanne.
This will be the 48th public issue of The World Bank in Switzerland and will bring the total amount of its public issues placed in the Swiss market to SwF 5,145 million. Following the full repayment of 14 issues, the principal amount outstanding on the remaining 34 public issues, including the current issue, totals SwF 4,079 million.