A $250 million 10-year, 7-3 / 4 percent coupon euro-dollar note offering was announced today by the International Bank for Reconstruction and Development (The World Bank). The notes were offered at 101 to produce a 7.46 percent yield to investors on a semiannual coupon equivalent basis. The notes will be repaid on March 18, 1997 and are non-callable.
The international syndicate for this issue is headed by Deutsche Bank Capital Markets as lead manager and Credit Suisse First Boston Limited as co-lead manager. They were joined by Algemene Bank Nederland N.V., Banca Commerciale Italiana, Banque Nationale de Paris, Banque Paribas, Daiwa Europe Ltd., Generale Bank, Goldman Sachs International Corp., Merrill Lynch International & Co., Morgan Guaranty Ltd, Morgan Stanley International, Namur International Limited, Salomon Brothers International Limited, Swiss Bank Corporation International Limited, Union Bank of Switzerland (Securities) Limited, S.G. Warburg & Co., Ltd. and Wood Gundy Limited, with the U.K. subsidiaries of five Japanese trust banks (Mitsubishi Trust International Limited, Mitsui Trust International Ltd, Sumitomo Trust International Limited, Toyo Trust International Limited and Yasuda Trust Europe Limited) as co-managers.
The proceeds of the issue will be used in the general operations of the World Bank.