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PRESS RELEASE September 20, 1988

World Bank Announces Prepayment of a Japanese Yen Public Bond Issue

The World Bank announced today that it intends to prepay an outstanding yen bond issue, the 8.3 percent Bonds of 1982, due 1994 (Series 17) at its next interest payment date (December 8, 1988). The total amount to be prepaid is Yen 18,952 million (about US$142 million), including a prepayment premium to investors of 3.0 percent of par.

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