The World Bank announced today a Pound sterling 100 million (about $165.5 million) 5-year eurosterling issue. The bonds carried a 10-7/8 percent coupon and were offered at 101.175 to produce a 10.55 percent yield on a semiannual equivalent basis. The proceeds of the transaction were swapped into DM.
The international syndicate for this issue was headed by S.G. Warburg Securities as lead manager and Baring Brothers Limited, Barclays de Zoete Wedd Limited, and UBS Phillips & Drew Securities as co-lead managers. They were joined by eleven comanagers.
This transaction is the first eurosterling borrowing by the World Bank under its fiscal year 1990 borrowing program.