A fixed-rate eurosterling issue, of principal amount Pounds 100 million (about US$ 109.1 million equivalent) and priced at 99-1/2 percent, was announced by the International Bank for Reconstruction and Development (World Bank). The issue of ten-year notes will carry an interest rate of 11-1/4 percent per annum, and matures on May 15, 1995. The yield to investors will be 11.03 percent. Interest on the notes will be paid annually on May 15.
The issues were offered through a syndicate of international financial institutions headed by Baring Brothers & Co., Limited as lead manager with Algemene Bank Nederland N.V., Banque Paribas, Barclays Bank Group, County Bank Limited, Credit Suisse First Boston Limited, Daiwa Europe Limited, Deutsche Bank Aktiengesellschaft, Hambros Bank Limited, Hill Samuel & Co. Limited, Kleinwort, Benson Limited, Lloyds Bank International Limited, LTCB International Limited, Merrill Lynch Capital Markets, Samuel Montagu & Co. Limited, Morgan Grenfell & Co. Limited, Morgan Guaranty Ltd, Orion Royal Bank Limited, J. Henry Schroder Wagg & Co. Limited, Swiss Bank Corporation International Limited, Societe Generale de Banque S.A., Union Bank of Switzerland (Securities) Limited, and S. G. Warburg & Co. Ltd. as co-managers.
The proceeds of this issue will be used in the general operations of the World Bank. This is the sixth occasion on which the World Bank has issued securities in the eurosterling market.
