The World Bank today borrowed ECU 100 million (US$ 114 million) through a seven-year non-callable public bond offering, the Bank's first European Currency Unit issue for its fiscal year 1988, which begins on July 1, 1987. The bonds have an issue price of 101-1/2 and carry a 7-1 / 2 percent coupon, payable annually, for a yield of 7.09 percent on a semi-annual equivalent basis.
This issue will be placed by an international underwriting syndicate lead managed by Morgan Guaranty Ltd. The bonds will be listed on the Luxembourg Stock Exchange.
