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PRESS RELEASE September 30, 1986

World Bank Announces Largest Swiss Franc Syndicated Bank Loan

The World Bank signed today the largest syndicated loan it has ever transacted in the Swiss market in an aggregate principal amount of SwF 750 million (about $455 million). The borrowing was signed with a syndicate of Swiss banks and a group of foreign banks and finance companies domiciled in Switzerland and Liechtenstein.

The World Bank borrowing consists of two tranches: Tranche is for SwF 500 million and has a maturity of five years, an interest rate of 5-1/4 percent and a price of 100, for a semi-annual equivalent yield of 5. 18 percent; Tranche B is for SwF 250 million and has a seven-year maturity, an interest rate of 5-3/8 percent and a price of 99.875, for a semi-annual equivalent yield of 5.33 percent.

The banking syndicate is led by Credit Suisse with Union Bank of Switzerland and Swiss Bank Corporation as co-lead managers, and with Banca della Svizzera Italiana, Bank Leu Ltd., Swiss Volksbank, Banca del Gottardo, HandelsBank N.W. and Banque Cantonale de Zurich as co-managers.

The proceeds of this issue will be used in the genera1 operations of the World Bank.

 


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