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PRESS RELEASE October 2, 1987

World Bank Announces Issuance of Deutsche Mark 200 Million Notes

The World Bank announced today a DM 200 million ($111 million) issue of five-year notes. The 32-member international syndicate of savings banks is being lead-managed by Bayerische Landesbank Girozentrale and co-lead managed by Westdeutsche Landesbank Girozentrale and Deutsche Girozentrale-Deutsche Kommunalbank. Interest on the notes is 5-7/8 percent, payable annually on November 2. The issue is priced at 99.75 percent, yielding 5.85 percent to investors on a semi-annual equivalent basis. The notes are non-callable and will be repaid at par on November 2, 1992.

Proceeds of the issue will be used in the general operations of the World Bank.

 


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