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PRESS RELEASE March 8, 1989

World Bank Announces Public Issue of Luxembourg Franc 1 Billion Bonds

The World Bank announced that it has signed today an agreement for a public issue in Luxembourg of LuxF 1 billion (about US$ 26 million) bonds. The seven-year bonds have a 7-5/8 percent annual coupon and are being issued at 100.25 for a yield of 7.44  percent on a semi-annual coupon equivalent basis. They are callable on April 11, 1994 and April 11, 1995 at premiums of 0.50 percent and 0.25 percent, respectively.

The issue, lead managed by Banque Generale du Luxembourg, will mature on April 11, 1996. It is the sixth public issue of Luxembourg franc bonds by the World Bank.