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PRESS RELEASE September 26, 1990

World Bank Borrows Australian Dollars $100 Million

The World Bank today borrowed $100 million (about US$ 83.1 million) through a 5-year noncallable public bond offering in the Euro-Australian dollar market. The bonds have an issue price of 101.15 and carry a 13-1/2 percent coupon, payable annually, for a yield of 12.76 percent on a semiannual equivalent basis.

This issue, which will settle on October 23, 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 floating rate Deutsche marks.

 


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