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PRESS RELEASE August 29, 1988

World Bank Announces $300 Million Two-Year Offering

The World Bank announced a $300 million offering of two-year U.S. dollar bonds in markets outside the United States, to central banks, other governmental institutions and international organizations. The bonds, which will mature on September 15, 1990, have a 9.01 percent coupon payable semi-annually and an offering price of par. The invitation to subscribe to the bonds was from August 16 to 23 and the allocation process has been completed.

The proceeds will refinance on September 15 a similar maturing issue in the aggregate principal amount of $300 million.