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PRESS RELEASE January 30, 1991

World Bank Announces Swiss Franc 600 Million Public Offering

The World Bank today announced a public bond offering in Switzerland of SWF 600 million (about US$ 474 million equivalent). The 10-year bonds, which have a bullet maturity, carry a 7 percent coupon and are priced at 102-1/4, for a contractual yield of 6.58 percent on a semi-annual equivalent basis. The bonds will mature on March 5, 2001.

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

This issue will be the largest of its kind in the Swiss market. This size should allow substantial placement with institutional investors and an active secondary market in the bonds in London. Swiss Bank Corporation, Credit Suisse and Union Bank of Switzerland intend to quote firm prices out of London for block trades in the bonds with bid/offer spreads customary in the Euromarket. There will also be trading in Switzerland for Swiss institutions and retail investors. The bonds will be listed in Switzerland.

 


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