The World Bank today borrowed ECU 150 million ($155 million) through a 10-year public bond offering, the Bank's first European Currency Unit issue in this fiscal year. The bonds have an issue price of 101-3/8 and carry a 7-3/4 percent coupon, payable annually, for a yield of 7.41 percent on a semi-annual equivalent basis.
This issue is being placed by an international underwriting syndicate lead managed by Banque Paribas Capital Markets Limited. The bonds will be listed on the Luxembourg Stock Exchange.
Most of the proceeds of the borrowing have been swapped into Japanese yen.