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PRESS RELEASE March 16, 1989

World Bank Announces Public Offering of Swiss Franc 125 Million Bond Issue

The World Bank announced today a public offering in Switzerland of SwF 125 million (about US$78.13 million) Swiss franc bonds. The 10-year bonds were issued at 101 with a coupon of 5-1 / 2 percent a year, for a yield of 5.30 percent on a semi-annual equivalent basis. The bonds will mature on April 26, 1999.

The underwriting group, which is lead managed by Union Bank of Switzerland with Swiss Bank Corporation and Credit Suisse as co-lead managers consists of Swiss banks and a group of foreign banks based in Switzerland.