The World Bank has issued DM 200 million (about US$ 122 million) of 10-year bonds targeting the savings banks sector through a syndicate of international savings banks lead managed by Bayerische Landesbank Girozentrale.
The bonds carry an 8-7/8 percent coupon and are priced at 101-5/8 for a yield of 8.45 percent on a semi-annual coupon equivalent basis. The bonds, which will be repaid at par on June 1, 2000 and are non-callable, will be listed on the Frankfurt, Munich and Duesseldorf Stock Exchanges.
The proceeds of the issue will be used in the general operations of the World Bank.
