Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Find Out

PRESS RELEASE December 15, 1988

World Bank Borrows and Swaps Finnish Markkaa 300 Million

The World Bank announced today a new borrowing in Finnish markkaa, a Fmk 300 million (US$ 73.3 million) public issue. Priced at 101 percent with a 9-3/4 percent coupon, payable annually, the 5-year notes will yield 9.27 percent on a semi-annual equivalent basis. The notes will be repaid on January 18, 1994.

The issue was underwritten by an international syndicate, consisting of members from Finland and other countries and lead managed by Kansallis-Osake-Pankki of Finland. This is the World Bank's fifth public issue of Finnish markka notes. The notes will be listed on the Helsinki Stock Exchange.

The Bank will swap the proceeds of the issue for US dollars.