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PRESS RELEASE October 28, 1987

Word Bank Announces 10-Year Dutch Guilder Borrowing

The World Bank announced today a public offering of f.300 million (about$151 million) in Dutch guilder bonds. The 10-year bonds have a seven percent coupon and an issue price of par for a 6.88 percent yield on a semi-annual coupon equivalent basis. The bonds are non-callable and have a final maturity of December 1, 1997.

The issue, which will be listed on the Amsterdam Stock Exchange, is the Bank’s first direct borrowing of Dutch guilders in the fiscal year which began July 1, 1987.

The bonds are underwritten by a syndicate of Dutch banks and foreign institutions headed by Algeme Bank Nederland, N.V., with Amsterdam-Rotterdam Bank, N.V. as co-lead manager.

This is the 23rd public offering of World Bank bonds in The Netherlands. Seventeen of these, including the current issue, remain outstanding with a total face amount of about f-4.6 billion ($2.3 billion equivalent).

 


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