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PRESS RELEASE January 26, 1988

World Bank Plans Prepayment of Japanese Yen Public Bond Issues

The World Bank announced today that it intends to prepay two of its outstanding yen bond issues, the 8.2 percent Bonds of 1981, due 1996 (Series 12) and the 8.0 percent Bonds of 1982 due 1994 (Series 15), at their next prepayment dates (April 16, 1988 and April 14, 1988, respectively). The total amount to be prepaid is Yen 55,356 million (about $433 million), including a prepayment premium to investors of 2.0 percent and 3.0 percent of par, respectively.

The Bank previously has exercised prepayment rights with respect to borrowings denominated in Japanese yen, Swiss francs, Luxembourg francs and Kuwaiti dinar.