The World Bank today launched its sixth public offering of Italian lira bonds in the Euromarket for an aggregate amount of Lire200 billion (about US$155 million). The 5-year Eurolira bonds, which have a bullet maturity, carry a 12-1/4 percent coupon and are priced at 101.55 percent for a contractual yield of 11.49 percent on a semi-annual equivalent basis. The_ bonds will mature on January 25, 1995.
The underwriting group, which is lead-managed by Banca Commerciale Italiana, consists primarily of banks from Italy and other European countries.
The proceeds of this issue will be swapped into US dollars which will be used in the general operations of the World Bank.