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PRESS RELEASE March 11, 1987

World Bank Announces Public Offering of 1 Billion Luxembourg Francs 10-Year Bond Issue

The World Bank today announced a public offering amounting to 1 billion Luxembourg francs ($26.4 million) of 7 percent 10-year bonds priced at par. The bonds will yield 6.88 percent on a semi-annual equivalent basis. They are callable annually on April 24 of 1994, 1995 and 1996 at declining premiums of 0.75 percent, 0.50 percent and 0.25 percent, respectively.

The bonds have been fully underwritten by a syndicate headed by Banque Generale du Luxembourg S.A. Other members of the underwriting syndicate are: Banque Internationale a Luxembourg S.A.; Kredietbank S.A. Luxembourgeois; Caisse d'Epargne de l'Etat, Luxembourg; Banque Indosuez Luxembourg; Banque Nationale de Paris (Luxembourg) S.A.; Banque Paribas (Luxembourg) S.A.; Credit Lyonnais, Luxembourg; Societe Generale Alsacienne de Banque, Luxembourg; Banque UCL S.A. Luxembourg; Credit Europeen S.A.; and Societe Europeene de Banque S.A., Luxembourg.

This issue is the fourth public offering of bonds by the World Bank in the Luxembourg capital market.