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PRESS RELEASE September 21, 1988

World Bank Announces Public Issue of Deutsche Mark 500 Million Bonds

The World Bank has issued DM 500 million (about US$266.9 million) of 10-year bonds through a 10-member international syndicate of German and foreign financial institutions led by Deutsche Bank AG. The bonds have a 6 percent annual coupon and are priced at 100.75 for a yield of 5.81 percent on a semiannual coupon equivalent basis. The bonds will be repaid at par on October 19, 1998.

The public issue will be listed on the Frankfurt Stock Exchange.

Proceeds of the issue will be used in the general operations of the World Bank.

 


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