A Yen 50 billion (about $400 million) public offering of World Bank bonds in the international capital markets was announced today. The bonds will pay 7.625 percent interest annually. They are priced at 101.55 percent and have a final maturity of 5 years, for a yield of 7.12 percent on a semiannual coupon equivalent basis.
The offering, which is noncallable, is being made through Daiwa Europe 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 used in the general operations of the World Bank.