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PRESS RELEASE June 18, 1987

World Bank Announces Public Borrowing of European Currency Units

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.

 


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