A Yen 30 billion (about $195.8 million) public offering of World Bank bonds in the international capital markets was announced today. The bonds will pay 6-7/8 percent interest annually. They are priced at 101-3/8 percent and have a final maturity of 7 years for a yield of 6.52 percent on a semi-annual coupon equivalent basis.
The offering, which is non-callable, is being made through LTCB International Limited in association with an international group of investment and commercial banks. The bonds will be listed on the Luxembourg Stock Exchange.
Proceeds of the borrowing will be swapped into floating rate U.S. dollars which will be used in the general operations of the World Bank.
