The World Bank announced today an AS 1 billion ($78 million) public offering of Austrian schilling bonds in the domestic market. The bonds will pay 6-5/8 percent interest annually. They are priced at 100.10% and have a final maturity of 12 years for a yield of 6.51 percent on a semi-annual coupon equivalent basis. This the world Bank's fourth public issue in Austria.
The offering is being made through a syndicate of banks which is headed by Creditanstalt-Bankverein, as manager, and Girozentrale und Bank der Oesterreichischen Sparkassen, Oesterreichische Landerbank and Genossenschaftliche Zentralbank as co-managers.
The bonds will be listed on the Vienna Stock Exchange. The proceeds of this issue will be used in the general operations of the World Bank.