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PRESS RELEASE September 2, 1988

World Bank Launched 3rd Public Offering of Italian Lira Bond Issue

The World Bank today launched its third public offering of Italian lira bonds in the Euromarket. The Lire 150 billion (about $107 million) issue of 5-year bonds has an issuance price of 101-1/2. The bonds carry an annual coupon of 11 percent for a yield of 10.33 percent on a semi-annual coupon equivalent basis.

The issue, underwritten by an international syndicate consisting of members from Italy and other countries, was lead managed by Banca Commerciale Italiana with Banque Paribas Capital Markets as joint lead manager.

 


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