A Can$150 million (about US$129.3 million equivalent) 5-year, 11-1/2 percent euroCanadian dollar bond offering was announced today by the International Bank for Reconstruction and Development (The World Bank). The bonds were offered at 101-3/8 to produce a 10.83 percent yield on a semiannual coupon equivalent basis. The bonds will be repaid on November 21, 1995 and are noncallable.
The international syndicate for this issue was headed by IBJ International Limited as lead manager and BMO Nesbitt Thomson Ltd, Credit Suisse First Boston Limited, Paribas Capital Markets Group, Scotia McLeod Inc., UBS Phillips & Drew Securities Limited and Wood Gundy Inc. as co-lead managers. They were joined by ABN-AMRO; Bank of Tokyo Capital Markets Limited; Banker's Trust International Limited; Banque Bruxelles Lambert S.A.; BNP Capital Markets Limited; Commerzbank Aktiengesellschaft; Daiwa Europe Limited; Deutsche Bank Capital Markets Limited; DG Bank Deutsche Genossenschaftsbank; Dresdner Bank Aktiengesellschaft; Generale Bank; Goldman Sachs International Limited; Hambros Bank Limited; Merrill Lynch International Limited; J.P. Morgan Securities Ltd.; Morgan Stanley International; Nomura International; RBC Dominion Securities International; Salomon Brothers International Limited; Societe Generale; Swiss Bank Corporation Investment Banking; and Westdeutsche Landesbank Girozentrale.
Net proceeds of this borrowing were swapped into Deutsche mark which will be used in the general operations of the World Bank.