A ¥50 billion (approximately US$195 million) public offering of bonds of the International Bank for Reconstruction and Development (World Bank) was announced in Tokyo today. The 7.30% Fifteen Year Bonds of 1985 are priced at 99.50%, yielding 7.36% to subscribing investors. They will have a final maturity of March 29, 2000 and will be redeemed at par in seven equal installments of ¥3 billion in each of the years 1993 through 1999 and one final installment of ¥29 billion in the year 2000.
The offering is being made through a syndicate of securities firms led by Daiwa Securities Co. Ltd. in association with a group of commissioned companies headed by The Industrial Bank of Japan, Limited.
Mr. Koji Kashiwaya, Director of the Tokyo Office of the World Bank, who signed the agreements for the issue in Tokyo on March 27 on behalf of the Bank, expressed the Bank’s appreciation for this further demonstration of support from the Japanese authorities and the investing public towards the development efforts of the World Bank.
Total funds raised by the World Bank denominated in Japanese Yen, including the present issue, amount to ¥3,026 billion (approximately US$11.8 billion at current exchange rates) of which ¥2,357 billion (approximately US$9.2 billion) remain outstanding, including the issue announced today.