The World Bank has signed an agreement for a bond issue of SwF 250 million (about $149 million) offered publicly in Switzerland by a syndicate of leading Swiss banks and a group of foreign banks based in Switzerland. The bonds, issued at par, carry a coupon of 5-3/8 percent a year, for a yield of 5.30 percent on a semi-annual equivalent basis. The issue will be repaid at par on September 5, 2001.
The underwriting group is lead-managed by Swiss Bank Corporation with Credit Suisse and Union Bank of Switzerland as co-managers.
This will be the 53rd public issue of the World Bank in Switzerland which will bring the total amount of public issues placed there by the Bank to SwF 6,307 million. The principal amount of the Bank's outstanding 36 public issues, including the current issue, totals SwF 5,056.