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PRESS RELEASE May 13, 1991

World Bank Announces Public Offering of Euroyen 50 Million Bond Issue

The World Bank announced today a Yen 50 billion (about $360 million) public bond offering in the international capital markets. The bonds carry an interest rate of 6.75 percent, payable annually. They are priced at 99.65 percent and have a final maturity of 10 years, for a yield of 6.69 percent on a semiannual coupon equivalent basis. The bonds are not callable and will be listed on the Luxembourg Stock Exchange.

The offering, is being lead-managed by Nomura International Limited in association with an international group of investment dealers.

Proceeds of the borrowing will be used in the general operations of the World Bank.