The World Bank announced its first public issue of Australian dollars in an amount of up to A$100 million (US$66.S million). It consists of five-year notes priced at 101-1/2 with a 14-1/8 percent coupon for a yield to initial investors of 13-1/4 percent on a semi-annual coupon equivalent basis. The issue is being placed in the euro-Australian dollar market.
The notes, which will mature on February 25, 1992, are being offered by an international syndicate lead managed by Orion Royal Bank Limited, with ANZ Merchant Bank Limited, Morgan Stanley International, and Deutsche Bank A.G. as co-lead managers.
The World Bank expects to swap the entire proceeds of this issue into another currency.