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PRESS RELEASE June 2, 1988

World Bank Borrows 100 Million European Currency Units

The World Bank today borrowed ECU 100 million (US$120 million) through a five-year noncallable public bond percent coupon, payable annually, for a yield of 6.92 percent on a semi-annual equivalent basis.

This issue will be placed by an international underwriting syndicate lead managed by Bank of Tokyo Capital Markets Limited. The bonds, the World Bank’s second European Currency Unit issue for its 1988 fiscal year ending June 30, will be listed on the Luxembourg Stock Exchange.

The proceeds of this issue will be swapped into Japanese yen which will be used in the general operations of the World Bank.