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PRESS RELEASE February 20, 1991

World Bank Prices Its $1.5 Billion 10 Year Global Bond Issue

The pricing of the World Bank's fourth global bond offering, a $1.5 billion 10-year issue launched yesterday simultaneously in the Euromarkets and in the U.S. and the Japanese domestic markets, was announced this morning by Donald c. Roth, World Bank Vice President & Treasurer. The bonds have an 8-1/8 percent coupon, payable semiannually, and were offered at 99.178 percent, to yield 8.247 percent, providing a spread of 42 basis points over the 10-year Treasury benchmark. The bonds were sold to investors in Europe, North America and Asia.

"We are delighted with the success of this issue", Roth said. "From the first moment to the last, it was a professionally handled, well - choreographed performance.

“The bonds were offered by an international syndicate of 10 leading dealers led jointly by Merrill Lynch & co. and J.P. Morgan Securities Ltd.