The World Bank and a syndicate of German banks floated today a 10-year DM 700 million ($380 million) public bond issue. The coupon is 5-7/8 percent and the issue price 100, for a yield of 5.79 percent on a semi-annual equivalent coupon basis. The bonds will be repaid on February 4, 1997 and will be non-callable.
The syndicate for this 60th public Deutsche mark issue is headed by the Deutsche Bank AG, as manager, and the Dresdner Bank AG, the Commerzbank AG, and the Westdeutsche Landesbank Girozentrale, as co-managers. The Bonds will be listed on all German stock exchanges.
The proceeds of this issue will be used in the general operations of the World Bank.
The World Bank's outstanding Deutsche mark obligations, consisting of both public and private borrowings, now total DM 27.3 billion ($ 14.9 billion).