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PRESS RELEASE June 11, 1990

World Bank Announces Swiss Franc 200 Million Public Offering

The World Bank today announced a public bond offering in Switzerland of SwF 150 million (about US$104 million) which was subsequently increased to SwF 200 million (about US$ 138 million). The 10-year bonds, which carry a 7-1/8 percent coupon, are priced at 102 for a yield of 6.73 percent on a semi-annual equivalent basis. The bonds, which have a bullet maturity, will mature on July 5, 2000.

The underwriting group, which is lead-managed by Credit Suisse with Union Bank of Switzerland and Swiss Bank Corporation as co-lead managers, consists of Swiss banks and a group of foreign banks based in Switzerland.