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PRESS RELEASE May 10, 1990

World Bank Borrows Australian Dollars 100 Million

The World Bank today borrowed A$ 100 million (about US$ 76 million) through a 6-year noncallable public bond offering in the Euro-Australian dollar market. The bonds have an issue price of 102 percent and carry a 14-1/2 percent coupon, payable annually, for a yield of 13.53 percent on a semiannual equivalent basis.

This issue, which will settle on June 7, 1990, will be placed by an underwriting syndicate lead managed by Hambros Bank Limited. The bonds will be listed on the Luxembourg Stock Exchange.

The proceeds of this issue will be swapped into Deutsche mark.