The World Bank announced today that it intends to prepay on July 9, 1987 and July 17, 1987, respectively, the total amount outstanding of two Swiss franc public issues. The prepayments will be SwF 96 million of 6-1/2 percent Swiss Franc Bonds of 976, due 1991 (Emprunt en Francs Suisses 6-1/2 percent 1976-1991), lead managed by Swiss Bank Corporation, and SwF 100 million of 7-3/8 percent Swiss Franc Bonds of 1981, due 1991 (Emprunt en Francs Suisses 7-3/8 percent 1981-1991), lead managed by Credit Suisse.
Eugene H. Rotberg, World Bank Vice President and Treasurer, said that in light of the substantial decline in interest rates over the past two years the Bank intends to exercise early redemption rights on selected public issues of its securities in .Switzerland and other capital markets if the exercise is financially beneficial and consistent with the Bank's overall funding strategy."
