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PRESS RELEASE January 23, 1991

World Bank Announces Eurosterling Bond Offering

The World Bank announced today a Pound sterling 100 million (about $195 million} 10-year eurosterling issue. The bonds carry an 11-1/8 percent annual coupon and an issue price of 99.65, for a yield of 10.89 percent on a semiannual equivalent basis. The proceeds of the transaction have been swapped into Deutsche mark.

The issue is lead managed by Barclays de Zoete Wedd. Baring Brothers, Samuel Montagu & Co and S.G. Warburg Securities are colead managers.