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PRESS RELEASE December 9, 1986

World Bank Issues U.S. Dollar Notes in Japan

A public borrowing in the Japanese capital markets of US$200 million 7-3/8 percent Notes, due December 15, 1993, was announced by the International Bank for Reconstruction and Development (World Bank). The issue, which is the Bank’s second U.S. dollar borrowing in this market, was offered at 101-1/8 percent, giving a yield to subscribing investors of 7.04 percent on a semi-annual equivalent basis. The issue is not callable prior to final maturity.

The borrowing was lead managed by Daiwa Securities Co. Ltd., with the Nomura Securities Co., Ltd., as co-lead manager, together with the Nikko Securities Co., Ltd., Yamaichi Securities Company, Limited, Kokusai Securities Co., Ltd., New Japan Securities Co., Ltd., the Nippon Kangyo Kakumaru Securities Co., Ltd., Universal Securities Co., Ltd., and Wako Securities Co., Ltd., as co-manages.

The net proceeds to the World Bank from this borrowing will be used in the general operations of the Bank.

The World Bank is headquartered in Washington, D.C. and has been operating since 1946. Its membership comprises 151 countries. The principal objective of the Bank is to promote the economic development of its member countries in the interest of fostering the long-term growth of international trade and improved standards of living. Its principal activity is providing loans for specific projects and related technical assistance and support for major programs of economic reform in developing member countries. From its establishment to September 30, 1986, the Bank had approved loans in the aggregate amount of $129.7 billion to finance projects or programs in 104 countries, including loans to the International Finance Corporation.