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PRESS RELEASE November 22, 1988

World Bank Announces Euroyen 10 Billion Borrowing

The World Bank has signed today a 5-year borrowing of Yen 10 billion ($81.9 million equivalent) in the Euroyen market. The bonds carry an interest rate of 4.75 percent a year. payable annually. and are priced at par to yield 4.69 percent on a semi-annual coupon equivalent basis.

The borrowing has been managed for the World Bank by IBJ International Limited. The proceeds of this borrowing have been swapped into US dollars.