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PRESS RELEASE November 17, 1989

World Bank Announces Prepayment of Japanese Yen Public Bond Issue

The World Bank announced today that it intends to prepay an outstanding yen public bond issue, the 7.0 percent Bonds of 1977 due 1992 (Series 7), at its next interest payment date of February 19, 1990. The aggregate amount to be prepaid to investors is Japanese yen 17.4 billion (about $121 million), plus a prepayment premium of 0.5 percent (or JPY 87 million) of that amount.

The Bank has previously exercised prepayment rights with respect to borrowings denominated in Japanese yen, Swiss francs, Deutsche mark, Luxembourg francs, Austrian schillings, Belgian francs, Kuwaiti dinars and Canadian dollars. Including this issue, the Bank has given notice of prepayment for six issues amounting to about $884 million equivalent in the current fiscal year.

 


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